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LEASE AUDIT
As part of the leasing process, Clear Technologies Leasing Consultants perform a Lease Audit Analysis. The information gathered in this exercise gives financial and technology officers a complete, yet succinct overview of the responsibilities regarding their lease portfolio, and a clear understanding of options under the terms and conditions of current leases. Additionally, a Lease Audit can offer the reassurance a financial officer needs that earnings are not being misstated due to improperly classified leases.
The Lease Audit Analysis is a five step process:
- Review in detail the terms and conditions of each Master Lease Agreement.
- Identify and organize all equipment schedules and addendums to each Master Lease Agreement.
- Calculate the present value dollars of debt remaining on each equipment schedule.
- Estimate the replacement cost (fair market value) of the equipment under each lease.
- Formulate an economically sound, technologically responsible action plan.
When steps one through four are executed, a document will be presented summarizing the project. The final step is to make recommendations based on the findings for the most cost-effective solution available to fulfill your company’s current and future requirements. These recommendations are included in the deliverable.
Want to learn more?. Call 1.888.339.4244 or contact an expert today!