L

Leasecrunch

www.leasecrunch.com link_icon

Company Research Report: LeaseCrunch



Company Overview



  • Name: LeaseCrunch

  • Mission of the Company: LeaseCrunch is devoted to creating efficient accounting software to simplify the complexities of lease accounting, providing helpful expertise for CPA firms, companies, and government entities.

  • Year Founded and Founders: LeaseCrunch was created by a team of seasoned CPAs, former Big Four auditors, software development veterans, and a former member of the FASB staff. However, the exact founding year is not specified.

  • Key People:

  • Mark Weidick - Chief Executive Officer

  • Timothy Kohler - Founder

  • Matt Little - Chief Technology Officer

  • Jessica Hamilton - Chief Financial Officer

  • Miguel Perez - Chief Product Officer

  • Mike Cooke - Chief Revenue Officer

  • Megan Krajnik - Chief Marketing Officer

  • Headquarters: No information is available.

  • Number of Employees: No information is available.

  • Revenue of the Company: No information is available.

  • What the Company is Known For: LeaseCrunch is known for simplifying compliance with lease accounting standards such as ASC 842, GASB 87, GASB 94, GASB 96, and IFRS 16, primarily targeting CPA firms, companies, and government entities.


Products



Lease Accounting Solutions



1. LeaseCrunch
  • Description: LeaseCrunch is a scalable, cloud-based lease accounting software designed for CPA firms, companies, and government entities, enabling compliance, simplification, and automation of lease accounting processes.

  • Key Features:

  • Compliant with standards ASC 842, IFRS 16, GASB 87, 94, and 96.

  • Simple Interface: Fast implementation with in-app tooltips and guidance.

  • Collaboration: Allows CPA firms to collaborate with clients.

  • Scalable: Suitable for managing one to thousands of leases.


2. LeaseCrunch Verify
  • Description: A specialized tool for CPA firms to perform easier audits of lease accounting calculations, facilitating efficiency in verifying compliance and accuracy.

  • Key Features:

  • Audit Lease Balances: Supports sample size audit, including amortization schedule and various lease expenses.

  • Time Efficiency: Reduces time and complexity of performing audits.

  • Sensitivity Analysis: Identifies client errors requiring adjustments.


Recent Developments



  • New Features: As of September 2024, LeaseCrunch expanded its capabilities with the introduction of lessor accounting for operating leases under ASC 842 & IFRS 16.

  • Executive Team Expansion: In June 2024, LeaseCrunch expanded its executive team, appointing a new CEO, CFO, and CPO to drive further growth.

  • Partnerships and Alliances: No specific new partnerships were mentioned, but the company engages with alliances to facilitate easier lease accounting for clients.

  • Webinars and Training: LeaseCrunch regularly offers webinars on topics such as GASB 87 and 96, lease modifications, and process automation to assist clients and firms in staying updated with best practices.


This report reflects the data available from LeaseCrunch and provides a detailed overview of the company’s core offerings and recent strategic activities. Note that specific financial information such as revenue and employee count are not available in the provided data.