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Major U.S. Based Airline



Major U.S. Based Airline Real Estate Manager Implementation

This Major U.S. based Airline carries the most domestic passengers of any US airline with services to over 100 destinations and ten additional countries. The Financial Accounting Standards Board (FASB) announced the first significant changes in years to how companies recognize assets and liabilities on their balance sheet. This required that this airline evaluate, select and implement a new solution and processes for real estate lease accounting and administration to ensure their compliance with this new FASB standard. EDI was selected by the airline to implement the Real Estate Module for Lease Accounting/Lease Administration.

Scope of Work Included:

The primary goal of this implementation was to ensure compliance with the FASB new accounting standards. The organization chose EDI because it enabled them to support the collaboration of Airport Affairs & Finance in a single system. The features and outcomes of this implementation as are follows:

  • Airport Affairs Lease Administration
    • Automated Processes
    • Auditable System
    • Lease expiration notifications
    • Led to Discovery of Lease Content Data Improvement
    • Invoicing Process is Automated, Accurate and Efficient
    • Lease Modifications are Synchronized across business units
  • Lease Accounting
  • Streamlined Accounting Review Process creates efficiencies
  • Journal Entry integrations to SAP maintains up to date and accurate accounting info in SAP
  • Disclosure, SOX, Validation Reports Support 10k Reporting