Why lease administration software is important for real estate brokers Commercial real estate services firms typically provide day-to-day management of property leases for their clients. This service is a relatively…
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Implementing a new lease accounting software is a complex but crucial step toward ensuring compliance with accounting standards and improving efficiency. Many companies encounter challenges during the implementation process, which…
Over the past few years, Visual Lease has helped hundreds of public companies achieve compliance with lease accounting standards. For many organizations, real estate lease accounting turned out to be…
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…
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….
For every organization that’s purchasing lease accounting tools, there are many things to consider; and data security is a major concern. We’re talking about your company’s financial records, so rock-solid…
The new lease accounting standards, ASC 842 and IFRS 16, bring greater visibility into corporate lease obligations. For many companies worldwide, the impact on their balance sheet is expected to...
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Until recently, many companies were not paying much attention to their property and asset leases beyond paying the bills. Leases were simply considered a cost of doing business, and managing…
Are you beginning to plan for your transition to ASC 842? Learn about the biggest ASC 842 balance sheet changes, the important implications of the changes, and get access…
What is an embedded lease? Simply put, embedded leases are components within contracts that entail the use of a particular asset, where the user has control over that asset. You…
Recently, we have talked a lot about ways that companies can understand their lease obligations and reduce costs in light of COVID-19. What many businesses have discovered during this time…
Across industries, sectors and organizations of different sizes, the COVID-19 outbreak has touched virtually every business in some way. Between stay-at-home orders, emergency closures, and supply chain disruptions, companies are…
Deciphering financial and contractual obligations of a lease can be a challenge. And that is especially true during an unprecedented event, such as the COVID-19 pandemic. All you really want…
The COVID-19 pandemic has impacted every company in some way. With “social distancing” and all the emergency regulations that are in place, many offices and nonessential businesses are shut down…
For many businesses and their accounting departments, the recent move to the new ASC 606 revenue recognition rules from the Federal Accounting Standards Board (FASB) was eye opening. The process…
The start of the new year means planning for what you need to accomplish in 2020. For accounting teams in private companies, there’s a big task on your plate this…
If you’ve been reading up on preparing for the transition to FASB’s new ASC 842 accounting standard, you may have heard that lease data collection is complex and time consuming….
With the new FASB/IFRS lease accounting standards, significantly more assets and liabilities must now appear on the balance sheet. Yet, some businesses still aren’t using lease accounting software to help…
With the big push to achieve compliance, a lot of businesses have been laser-focused on making the transition to the new FASB/IFRS lease accounting requirements. While that is understandable, it’s…
This week, U.S. accounting rulemakers voted in support of giving private companies an extra year to comply with the recently-adopted lease accounting rules. Companies now would have until 2021 to…
Until recently, Corporate Real Estate (CRE) and Accounting departments had little reason to talk to each other. ht CRE is primarily responsible for obtaining space and managing facilities-related issues. The…
The stakes are high when it comes to choosing a lease accounting platform, because it directly affects the accuracy of your company’s financial reporting. Just about every firm working to…
The challenges of lease accounting data collection for distributed firms Getting ready for compliance with the new lease accounting standards (FASB ASC 842 and IFRS 16) is a complex and…
For private companies faced with adopting ASC 842 and/ or IFRS 16 this year, there are many complex lease accounting decisions to make. These decisions impact not only your compliance…
For private companies just beginning to think about adopting the new lease accounting standards, it may seem like you’ve got plenty of time. The lease accounting compliance deadline for a…
When ASC 842 and IFRS 16 were first announced, there was quite a bit of uncertainty about how the accounting would work for variable rent leases. Large public companies found…
Can your lease accounting software find lease payment mistakes? Were you under the impression that lease accounting software could only perform accounting calculations and add information to your balance sheet?…
If you work for a public company, you are probably breathing a sigh of relief after achieving lease accounting compliance with the new standards just in time for the deadline…
Journal entries for the new lease accounting standards: are you getting the intelligence you need? As the deadline for complying with FASB lease accounting changes draws closer, financial leaders are…
The upcoming lease accounting changes mandated by FASB and IASB have dramatically increased the scope and complexity of lease reporting requirements for every organization that has leased assets (which is…
For most corporate attorneys, FASB ASC 842 compliance is an accounting exercise that is only vaguely on their radar (if at all). Here is why that is as a major…
As a lease accounting solution provider, we talk to finance leaders every day who are facing the deadline for FASB ASC 842 and/or IFRS 16 compliance. Not surprisingly, we hear similar…
Preparing for the FASB lease accounting changes is time-consuming, and there are many tasks you’ll need to complete before the deadline so you’re ready to comply. Getting software for the…
Back in 2016 when FASB released their new lease accounting standard changes, the implementation deadline seemed far away and there were more immediate accounting issues to deal with (such as…
Why measure and optimize equipment lease performance? Most large, global organizations have some form of management and oversight in place for their real estate leases. After all, those leases represent…
Achieve fast compliance and long-term value with Grant Thornton and Visual Lease’s joint lease accounting solution With the enactment of the new IFRS 16 & ASC 842 (FASB) lease accounting…
WOODBRIDGE, N.J., April 12, 2018 /PRNewswire/ — Visual Lease, the leading provider of end-to-end lease accounting & management software, received a minority growth equity investment from Growth Street Partners. Visual Lease’s…
With FASB compliance less than a year away, Visual Lease is doing all we can to smooth the transition — including delivering a new lease accounting update designed to make…
For corporate real estate decision-makers, will the new lease accounting standards make an already challenging job even more difficult? You already have many factors to consider when choosing locations, negotiating…
We know you’ve got questions about the IFRS and FASB changes related to the new lease accounting standards. Even if you’ve carefully reviewed FASB ASC 842 and IFRS 16, it’s…
Good news for companies facing FASB compliance in 2019 There’s good news on the FASB compliance front, which is not quite official yet but should be finalized any day now….
Lease accounting software has become a necessary expense for most organizations due to the new IFRS and FASB lease accounting standards. However, choosing wisely can save more money in operating…
Lease accounting changes: the onus and the opportunity It’s no secret: the lease accounting changes required by FASB ASC 842 and IFRS 16 have put a significant burden on companies,…
Because of the new FASB and IFRS lease accounting changes, leases are an increasingly visible part of your organization’s financial reporting. Leases are now being carefully scrutinized by everyone, including…
As organizations are preparing to adopt the new FASB and IFRS lease accounting standards, virtually all must choose new technology to facilitate the process. And many are under the assumption…
In recent weeks, we’ve been participating in some insightful events with corporate Controllers, CFOs, CAOs, global accounting firms, and other members of the financial leadership community, including the Controller Summit…
The CoreNet Global Summit is a forum for discussion of the most important ideas, strategies and tactics that leading Corporate Real Estate teams employ to meet goals and increase their…
As your organization begins collecting the necessary data to comply with the new FASB lease accounting rules, it won’t take long before you realize that you won’t get everything from…
Think you have all the data you need for ASC 842/IFRS 16 compliance? Think again. Extracting data for ASC 842 transition or IFRS 16 compliance is more than a numbers…
With deadlines looming, organizations are racing to get the lease data necessary to comply with updated FASB ASC 842 and IASB 16 rules — especially the public companies that have…
As organizations worldwide prepare to transition to the new lease accounting standards, FASB ASC 842 & IASB IFRS 16, accounting teams are anticipating a heavy workload to prepare for the…
Changes are coming — is your organization ready? The Financial Accounting Standards Board (FASB) is gearing up to align U.S. standards with global accounting standards, increasing transparency in financial reporting…
Woodbridge, NJ – April 7, 2015 – Visual Lease, the leading provider of cloud-based Lease Administration software for Fortune-1000 companies with multiple locations, announced today that Michael Bell has joined...
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