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Ivory Consulting Releases SuperTRUMP 12

September 17, 2018, 07:15 AM
Filed Under: Industry News

Ivory Consulting Corporation announced today the release of SuperTRUMP 12 which incorporates the new US GAAP ASC 842, Leases, and other enhancements.

SuperTRUMP 12, available on the desktop, the web, in Salesforce and in multiple server versions, features ASC 842 accounting for both lessors and lessees which allows users to understand the accounting impact of equipment leases on both parties’ financial statements.
New features offered in SuperTRUMP 12 include:

  • ASC 842 lease classification and accounting rules, including classification logic, an updated user interface and updated accounting and classification reports.
  • Comparison of results between ASC 842 and FASB 13 accounting methods.
  • IDC fee accounting treatment updated for ASC 842 rules.
  • Updated tax credit accounting to allow the use of three ASC 842 interpretations: provision, income and gross-up.
  • The new yield “IRR or MISF With Interest on Deferred Tax” provides greater flexibility in measuring after-tax lease profitability. The yield is calculated on the pretax cash flows combined with interest on deferred taxes using a user-selected interest rate. Instead of reinvesting deferred taxes at the yield rate, it allows the user to select any rate between the yield and zero. This can be useful to lessors when establishing tax sharing agreements between parents and captives.

“Given the extensive ASC 842 rule changes for lessors, and especially for lessees, this release represents one of the most comprehensive enhancements we’ve made to SuperTRUMP in decades,” said Chris Ivory, founder, Ivory Consulting.

Steve Hays-Lohrey, co-owner, said, “SuperTRUMP 12 is the end result of several years of hard work by the Ivory Consulting team all of whom are dedicated to providing our customers with the best tools possible to help them achieve extraordinary results.”

For more than 35 years, Ivory Consulting Corporation, based in Walnut Creek, CA, has been a provider of equipment lease and loan software, software customizations and consulting services for the equipment finance industry.

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