The classification report displays a summary for each lease of whether it is capital/finance or operating, and why.
ASC 842/ IFRS 16/ GASB87 version
In addition to the tests above, the ASC 842 test for a specialized asset is shown. Leases that are short-term or of low-value assets are noted in the classification type.
You can get more detail for an individual lease, including test results for revisions to the lease, by displaying the lease and selecting the single lease Classification Report (from the Lease menu), or by displaying a Listing Report.
After all leases are listed, a summary is shown of the number of operating and finance leases, and how many of each were user-classified. For finance leases, a sum of all right-of-use assets is shown.
FAS 13/ IAS 17 version
Each of the four tests for capitalization is shown for each lease. If the test is met, it is shown in bold. If sufficient information is not provided for a lease to calculated the results of the test, it is noted why the test need not be checked (Land only, Fair value not determinable, Last 25% of economic life, User classified). For capital leases, the capital rate is shown.
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Your report title
Enter any title you want to give to the report. The type of report is always displayed at the top left corner; you can use this title to describe the report (such as “Midwest Division”).
Type of leases to use
You may limit the report to just the finance leases, just the operating leases, or use both (the default).
Group of leases to use
You may choose All leases, a Group of leases starting with the same character(s), or a Single lease. If you choose Single lease, a popup displays the leases in the file; choose the one you want. If you choose Group, you are prompted for the beginning character(s) to search for.
Output to
You can create a text report that displays on the screen (and which can then be exported in HTML, PDF, Rich Text Format (.rtf), Microsoft Word® (.doc), Microsoft Excel® (.xls), and Crystal Reports (.rpt) formats). Please note that the Excel output exported from a text report is laid out the same way as the text report, which is generally not well-suited for sorting and otherwise manipulating the data inside Excel. If you export a text report, please wait for the “Export completed successfully” message to display before continuing with EZLease.
You can also create spreadsheet output. This is specifically designed to manipulate inside a spreadsheet program; a report period is displayed on a single line, so you can select, sort, and sum results. The same information is provided as on the text report, but the layout is considerably different to facilitate data manipulation. The spreadsheet format includes all the fields shown in the text layout, as well as the lease's account numbers, if any are defined. If you select spreadsheet output, you are prompted to specify an output filename.
Active as of date
Only leases that are active on the date specified (that is, the lease’s begin date is before this date, and its end date, and early termination date if any, is after this date) are included in the report. If you wish to include all leases, no matter when they are active, select the “List all leases” check box.
In System Options, you can select whether the spreadsheet output should be generated as an Excel .xls file, or as an XML-format spreadsheet. Output in Excel format requires that you have a licensed copy of Excel on your computer.
Special options
Click this button to get a secondary screen which allows you to select special groups of leases and temporarily capitalize operating leases.