View all newsletters
Receive our newsletter - data, insights and analysis delivered to you

Classic Technology

Lease Evaluation Consultancy and Software Support

The Coach House, Spring Farm Lane, Harden, Bingley, West Yorkshire, BD16 1BS

Classic Technology provides specialist asset finance services and supports the Classic lease evaluation software, which is one of the leading lease evaluation and accounting solution packages in the UK.

Classic accounting and lease evaluation software

Classic enables lessors and lessees to evaluate and structure leases or similar financing transactions, as well as examine the impact of different accounting methods. It has been fully updated to include all the functionality required for lessees to account for leases under the new standard IFRS 16.

The software solves any lease parameter and combines the ease-of-use of a specialist package with spreadsheet-style flexibility, making it one of the most sophisticated lease evaluation packages on the market.

Classic has been designed to handle all tax and accounting aspects of leasing, and will produce a wide range of reports for individual or portfolios of leases.

Classic Add-in reporting software for Excel spreadsheets

The Classic Add-In enables end-users to produce accounting reports for a portfolio of equipment or property leases, ranging in size from a handful to several thousand leases.

As long as the lease details for portfolios are within or can be copied to an Excel workbook, the add-in can determine the complete accounting required.

It can handle complex rental patterns and carry out the transition from IAS 17 to IFRS 16 under any of the IFRS 16 transition options, as well as handle changes over the life of the leases both before and after transition. These include alterations in the lease term, payments, impairments, and modifications.

Reports such as cash flows, income statements and balance sheets can be produced in summary form or broken down by lease, and can be produced monthly, quarterly, half-yearly or annually.

Sensitivity analyses can also be carried out to show the impact of changes in the discount rate and different transition options through graphs.

The Classic Add-in provides clients with a standard template for providing information to their customers and allows lessees to perform the calculations for their accounts, as well as assist them in determining appropriate accounting policies.

Specialised accounting advisory services

Classic Technology provides specialist consultancy services, covering advice on evaluating leases and other asset finance transactions, as well as accounting-related solutions.

The company provides support on the impact and implementation of IFRS 16, including:

• Staff training • Assisting with the collection of data required to implement IFRS 16 • Assisting with assessing the impact of options etc in the leases • Evaluation of differing accounting options to enable a company to reach a decision as to the most appropriate accounting policies to adopt

Classic Technology history

Classic Technology was founded by David Maxwell, who created the Classic lease evaluation software. Throughout his career, he has specialised in leasing and asset finance, providing advice for accounting and evaluation across the complete leasing spectrum.

David is an expert in advising and assisting with the implementation of IFRS 16 and its possible impacts, having been a member of Joint IASB and FASB Working Group, which both helped develop the standard.

He is a regular contributor to leasing publications, as well as a respected conference speaker and course lecturer.

Classic Technology Limited

The Coach House, Spring Farm Lane, Harden, Bingley, West Yorkshire, BD16 1BS

Load More

IFRS 16 transition options

In January 2016, the International Accounting Standards Board issued a new financial reporting standard on leases (IFRS 16) which requires all leases falling within its scope to be on the balance sheets of lessees.  This will not only substantially change

Investec Interview: Sustainable Financing

Charlotte Davies joined Investec Asset Finance in April 2020 to launch a new Sustainable Energy Finance offering, helping UK companies to fund renewable energy assets such as solar panels, biomass boilers and onshore wind turbines. In this article, we catch

Leasing Life Virtual Conference & Awards

As banks across Europe wrestle with the challenge of deep digitisation of their businesses, two additional forces are gradually re-shaping leasing and asset finance across the region. The growing importance of responsibility for asset lifecycles, combined

Update from a funder: Q&A with Investec’s Katherine Flannery

Covid-19 hit the entire global economy hard and block discounting is no different. In this exclusive interview, Investec’s Katherine Flannery, who leads one of the UK’s largest block discounting portfolios, explains how Investec collaborated with its

Europe’s window of climate opportunity

Climate change is increasingly in the news, and while the horrific images of extreme weather and the tragic loss of life and livelihoods spring to mind, just how climate change is shifting consumer and investor behaviour, as well as public policy, is equally

Balancing Risk and Reward: AI in Equipment and Auto Finance

The first in a series of papers published by Alfa, ‘Balancing Risk and Reward: AI in Equipment and Auto Finance’ explores the proven benefits and risks which must be considered by an asset finance organisation seeking to incorporate AI strategies

Stay Ahead of Asset Finance Trends

FIS presents its local Asset Finance seminar on Nov 20 2019 in Frankfurt am Main, Germany. Staying ahead in Asset Finance means keeping up with trends and being able to tackle the challenges head-on. With opportunities for both thought leadership and

Is Asset Finance Technology Ready for the Cloud?

Cloud technology is changing almost every aspect of our lives. Almost everything has an option to access information or services through cloud technology. Adoption of Cloud technology has come from the exceptional convenience it offers. This has created an

Digital Directions Part Two: Realising Your Digital Journey

In 2017, Alfa’s first Digital Directions report explored leading industry opinion on how digitalisation was changing asset finance. In this follow-up, they look more closely at where companies have reached in their digital journey. Digital Directions

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Thursday. The leasing industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy


Thank you for subscribing to Leasing Life