Technical Accounting, Reimagined

Audit-ready memos,
backed by policy

Folio generates memos with verified FASB citations, grounded in your company's policy elections, not assumptions. Built by a Controller for Controllers.

Request Early Access See how it works
ASC 842 · 220 Market St, SF · Q4 2025 ✓ Generated
Acme Holdings, Inc.
Technical Accounting Memorandum
To: Audit File
Date: Dec 31, 2025
From: Controller
Topic: ASC 842 Lease Classification
Applicable Guidance

Classification Analysis

None of the five criteria under ASC 842-10-25-2 are met. Title does not transfer; no purchase option exists; the 60-month term represents 16.7% of the 30-year economic life (below the Company's 75% major part threshold established in the Company Lease Accounting Policy Memo)...

Conclusion

The lease is classified as an operating lease under ASC 842-20-25-1. IBR of 5.75% applied per Company Lease Accounting Policy Memo dated Feb 10, 2026.

All citations verified against FASB codification
The Problem

Your team spends more time
writing memos than analyzing
the transactions behind them.

The bottleneck isn't knowing the guidance. It's writing it all down in a form auditors will accept, then doing it again next quarter when no one can find the last one.

  • 8–15 hours per memo, manually Pulling codification text, structuring the analysis, getting citations right, formatting the document. All before reviewer comments even start.
  • Prior memos are unfindable Scattered across personal drives, SharePoint folders, and email attachments. Two weeks before every audit, someone's job is just finding and organizing them.
  • Policy drift is invisible Every memo re-establishes elections from scratch. Thresholds shift. Methodology changes without anyone noticing. Auditors notice.
Process

From transaction to memo
in four steps

Set your policy once, run individual transactions through structured intake, review the draft, export to auditors.

Set Company Policy

Complete the Policy Profile once: elected thresholds, methodology, practical expedients. Generate a standing policy memo that every transaction memo will reference.

One-time setup

Upload & Answer

Upload the contract or amendment. Answer guided intake questions. Folio extracts key terms and pre-populates what it can.

Per transaction

AI Drafts the Memo

The system retrieves FASB codification text and constructs a structured memo with real paragraph citations anchored to your policy elections.

Minutes, not hours

Review & Export

Review with inline citation verification. Click any ASC reference to see the codification text. Approve and export a formatted .docx.

Audit-ready
Architecture

Policy once. Memos inherit.

Most tools re-establish company policy from scratch on every transaction, producing inconsistency auditors notice. Folio separates what your company has elected from how each transaction is analyzed.

Layer 1 · Set Once
Company Policy Memo
Your standing policy elections per ASC topic. Approved once by the Controller. Every transaction memo references it. Never re-argues it.
  • Elected thresholds, methodology, and practical expedients
  • IBR approach, capitalization policy, renewal framework
  • Revenue recognition elections under ASC 606
  • One approval, consistent across every memo generated
Layer 2 · Per Transaction
Transaction Memo
Transaction-specific analysis that automatically inherits company elections. Rates, thresholds, and methodology come from Layer 1. Not re-established.
  • Structured analysis against all applicable criteria
  • Management judgment fields labeled explicitly
  • Initial measurement, journal entries, disclosure implications
  • Every policy reference traces back to the approved source
Transaction memos cite:
"IBR of 5.75% applied per Company Lease Accounting Policy Memo dated Feb 10, 2026"
No drift.
Capabilities

Everything the memo needs.
Nothing it doesn't.

Built for technical accounting memos. Not adapted from a generic document tool.

Memo Generation

Structured intake drives a retrieval pipeline over the FASB codification. Outputs a properly structured memo with verified paragraph citations, management judgment blocks, journal entries, and disclosure implications.

Live · ASC 842 & 606

Citation Verification

Every ASC citation is checked against the codification before the memo leaves the system. Click any reference to see the exact paragraph text. Unfounded citations are flagged, not silently passed through to auditors.

Live · Validated

Policy Profile

Guided intake collects company-level elections. Generates a standing policy memo referenced by every transaction.

Building · Launch

Ask Folio

Contextual chat loaded with the ASC paragraph you're viewing. Answers grounded in the codification, not general knowledge.

Building · Launch

Word Export

Formatted .docx with company header, signature block, and properly cited ASC references.

Live

Memo Repository

Searchable, versioned library. Find prior conclusions by transaction, not by filename.

Planned · Phase 2
Pricing

Built for accounting teams
that can't afford to get
this wrong.

Folio replaces a process that costs your team hundreds of hours per year and carries real audit risk. Design partners get founding pricing and direct access to the team.

Enterprise and multi-entity pricing available on request.

Platform
$15,000
per year
  • ASC 842 and ASC 606 memo generation
  • Company Policy Profile + policy memo
  • Citation verification against codification
  • Ask Folio contextual chat
  • Formatted .docx Word export
  • Additional ASC topics as released
Request Early Access
Early Access

Join the design partner cohort

We're working with a small group of Controllers and Accounting Managers who will shape the product in exchange for founding pricing and direct access to the team. If your team produces technical accounting memos and wants to be first, let's talk.

Request a Demo