ASC 842 and IFRS 16 lease accounting standards require organizations to recognize lease assets and liabilities on their balance sheets. Compliance requires comprehensive lease data extraction including: lease term, payment schedules, renewal option likelihood assessments, variable payment terms, and discount rates. For CRE firms with hundreds of leases, compiling this data manually is one of the most resource-intensive compliance exercises.
Abstract all lease terms required for ASC 842/IFRS 16 calculations: base rent, escalation schedules, option terms and exercise likelihood, variable payment provisions, residual value guarantees.
Generate structured output compatible with lease accounting software (LeaseQuery, CoStar, Visual Lease).
Flag provisions requiring management judgment: reasonably certain renewal assessments, variable lease payment estimates.
Produce a lease data extract in the standard import format for your accounting platform.
Update abstracts as lease modifications occur to maintain ongoing compliance.
Automate This Workflow
Crevanta provides the extraction and structuring foundation that makes CRE workflow automation possible.