Footnote Disclosures
Category
General Concepts
Footnote disclosures are supplementary information provided in the notes to financial statements that explain the basis of accounting, significant policies, and detailed breakdowns of financial statement line items. Lease accounting requires extensive footnote disclosures under both ASC 842 and IFRS 16.
Why it matters
Lease footnote disclosures are among the most detailed and data-intensive disclosures in financial statements. They must include maturity analyses, weighted average metrics, expense breakdowns, policy descriptions, and narrative about significant judgments. For companies with large portfolios, preparing these disclosures manually is a major bottleneck in the close process.
Lease accounting platforms generate footnote disclosures automatically, pulling the required data from individual lease records and aggregating it into the formats specified by each standard.
How Arvexi handles this
Arvexi generates complete footnote disclosure packages from portfolio data, including all quantitative tables and supporting schedules. The output is formatted for direct inclusion in financial statements, eliminating manual compilation from spreadsheets.
Disclosure generation also feeds into Arvexi's Financial Close workflow, where footnote packages are assembled as part of the close cycle.
Explore how Arvexi automates this: Lease Accounting · Lease Review · Financial Close