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2 Copyright ©2021 Tango. All rights reserved. FASB ASC 842 & IFRS 16 COMPLIANCE | LEASE SYSTEM About Tango As the market leader in integrated workplace management system and store lifecycle management. Tango has successfully partnered with over 500 leading companies and we apply that deep knowledge and those best practices to our world-class solution. As the only true end-to-end solution on the market, we help customers find, build and manage retail and office locations in a single suite, leveraging AI and deep learning techniques. Our cloud-based SaaS and mobile solutions are utilized across more than 140 countries by concepts ranging f rom those having small footprints to large global brands with more than 40,000 locations. Tango Lease was built f rom the ground up with FASB ASC 842 and IFRS 16 compliance and has been validated by leading independent accounting firms. Our unparalleled depth of industry experience combined with our leading solution has resulted in dozens of major corporations switching to Tango for their lease administration and accounting requirements. FOUR. Ensure the solution is comprehensive Sure, you may have been sold a solution that managed your lease accounting requirements, but what about paying rent, tracking key dates and terms, and managing common area maintenance reconciliations (to name a few)? You need a system that not only addresses your lease accounting needs, but also supports lease administration and lease financials in one complete, comprehensive solution. FIVE. Don't pay for your own data Calculations under the new standard can require up to 75 different data elements across all types of leases – including real estate, equipment, and embedded. When you're comparing lease accounting software, make sure the vendor will allow you to access your data whenever you like – without paying extra. Also, data is a competitive advantage, so maintaining privacy is paramount. The best lease accounting software vendors won't leverage your organization's invaluable data to fuel their businesses. SIX. Two-for-one isn't a deal As soon as the new FASB ASC 842 and IFRS 16 regulations were published, your lease accounting software vendor may have assured you they would guide you through integration, all the way to compliance. The best lease accounting software will come with the module you need, and not require further purchases to achieve compliance. Select a solution that has compliance built right in. SEVEN. Delay, delay, delay Some vendors already have many customers that they need to help get compliant, but their legacy solution can't hold up to the FASB ASC 842 standard. In this case, vendors may switch you to other tools in their arsenal. The challenge is that with so many customers needing to switch, they simply don't have the staff to manage the transitions, or provide underqualified resources. Not only are existing customers struggling to get access to resources, but new ones are getting left out in the cold – and are no closer to being compliant! Save yourself trouble in the future and compare lease accounting software before buying.

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