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.
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:
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