Freee Corporation (freee) announced on the 11th that it plans to launch “freee Fixed Assets,” a cloud-based fixed asset management service, in spring 2026. freee Fixed Assets is an integrated fixed asset management service that centrally manages fixed asset management tasks, from approvals to reporting and disclosure. freee’s integrated cloud ERP seamlessly connects with various freee products for tasks before and after recording fixed asset records in the fixed asset ledger, providing an integrated experience that not only integrates accounting entries for depreciation and disposals, but also integration with acquisition accounting, balance reconciliation, inventory, consolidation packages, and reporting.
freee Fixed Assets also complies with the new lease accounting standards that will come into effect in April 2027. The new lease accounting standards are mandatory for fiscal years beginning after April 1, 2027, and apply to listed companies and large companies under the Companies Act. Their subsidiaries and affiliates will also be required to comply with these standards when preparing their parent company’s consolidated financial statements. For contracts determined to be leases using AI in freee Sign, freee Fixed Assets can automate tasks such as determining whether a contract is short-term or low-amount, calculating discounts to account for assets and liabilities, registering fixed assets, and managing lease liabilities thereafter.
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It can also automatically tally up tax adjustment amounts and information needed to create notes, providing basic functionality for complying with the new lease accounting standards. Freee plans to post information about seminars on the new lease accounting standards on its freee IPO Support Office page.
SOURCE: Yahoo