How to Abstract, Manage and Report on Lease Data When FASB issued its update to the lease accounting standard, the main goal was to increase the transparency and comparability of financial reporting. …
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Hundreds of private organizations have begun their journey towards lease accounting compliance. Although, many of them underestimate the amount of effort involved with preparation. In particular, assembling a team…
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…
Buying technology for cross-functional teams can be notoriously nightmarish, especially as you dive in and realize you need to expand your scope, shorten your timelines, or overhaul your processes along…
How to Save Money and Improve ROI with Lease Accounting Technology Leases are complex documents that can be challenging to interpret. Critically important details are often buried deep within a…
Lease Accounting Compliance: Lessons from Public Companies Although private companies still have some time to adopt the new lease accounting standards, public companies have already had to meet their compliance…
Many private companies breathed a sigh of relief when the deadline for transitioning to FASB’s newest lease accounting standard was once again extended — this time, until 2022. But make…
We recently surveyed hundreds of companies, including 700 Visual Lease customers (see Fig. 2), about the impact COVID-19 has had on their corporate real estate leases. As seen in the…
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…
