By using the rental service, the company pays less than if paying immediately. At the end of the rental period, it is possible to extend the term, to buy out the leased item or return it to the bank. In case of return Nordea provides secure data deletion, equipment utilization in environmentally friendly way or further disposal.
AssetMaster rental service complies with the IAS (the International Accounting Standard), which together with the on-line mode AssetAdvantage asset management system makes it easy to buy, rent and list the fixed assets costs of different aspects and according to the specificity of the company.
The leaseholds should not be included in the balance sheet because they are considered off-balance sheet commitments. Payments for AssetMaster transactions should be reported as expenses in addition to other payments for services.
Asset Master is a widely used service in the Scandinavian Countries. It is starting to get more and more prominent in the medical sector and IT-related companies in the Baltic States.