This question was asked by an attendee at a recent Proformative Cloud Computing and SaaS event: Are there any Cloud Computing or SaaS companies you know of working on a cloud application for
Are there any Cloud Computing or SaaS companies working on a cloud application for accounting for leases for when the FASB agree to put them
Answers
Once the new lease accounting rules are finalized, I'm sure there will be a number of software and cloud solutions that will become available. However, since the lease accounting rules have not been finalized yet and FASB recently pushed back the expected finalization of these rules from Q2 2011 to Q3 2011, I doubt any solution providers are spending too much time on this yet. Once the rules are finalized and the effective date of the new rules is known, I expect we'll see a number of different solutions offered to assist companies in tracking, calculating and reporting under the new requirements. Some of these will be cloud or SaaS-based, others will be in a more traditional software model.
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Accounting