When discussing financial statements, most people think about the two most common ones: the Income Statement, also known as Profit and Loss Statement and the Balance Sheet. However, there is…
Read More
The Visual Lease blog
Under the FASB ASC 842 standard for lease accounting, organizations face significant changes including both new disclosures and specific requirements for how to report those disclosures. For instance, in the…
Leases are complex documents that can be challenging to interpret. Critically important details are often buried deep within a lease and can be (literally) hard to find. — Multiply that...
Read MoreThe Federal Accounting and Standards Board (FASB) created the new lease accounting standard (ASC 842), which has raised questions about how balance sheets are affected. We’ve answered your top 10...
Read More
Let’s be clear: lease accounting software can’t recommend which decisions you should make. But it can provide the tools to help you test different scenarios without affecting your live data….
When preparing to implement a new lease accounting software, one of the most important parts is importing data from your current leases to ensure compliance with lease accounting standards. Before…
The old lease standard, ASC 840, did not require all kinds of leases to be recorded on the balance sheet, which in turn provided the opportunity for many to use...
Read More
As you navigate the complexities of ASC 842 compliance, you may be wondering how and when to properly account for leasehold improvements. What are leasehold improvements? From an accounting standpoint,...
Read MoreIn the world of leasing agreements, there can be some confusion when it comes to the terminology used by attorneys and accountants. One such term is the “lease commencement date.”…
Key Takeaways What CAM Charges Are: Common Area Maintenance (CAM) charges cover shared property expenses like lobbies, hallways, parking lots, landscaping, and utilities. CAM fees are the actual amounts tenants…
