This article originally appeared here in Forbes. In 2020, many companies were forced to make tough decisions regarding their leased commercial spaces. From office closures to consolidations and deferrals, many…
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The Visual Lease blog
Lease accounting (ASC 842, IFRS 16 or GASB 87) is not your average one-and-done disclosure. This whole new approach to accounting requires you to account for lease changes throughout the year with a higher level of scrutiny. A…
What is Deferred Rent Under ASC 842? In lease accounting, deferred rent happens when the cash rental payment varies from its expense recognized on the financial statements and occurs when the tenant is provided free rent in one...
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Organizations are increasingly seeking flexible lease options, with short-term leases becoming more popular. Lease accounting standards treat different lease lengths differently. This blog explains the ASC 842 requirements for accounting…
Cell phone companies offer new phones to entice clients to renew their contracts. Retailers slash their prices to draw consumers to purchase. Car dealerships hand out freebies and discounts. In...
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Changes in accounting standards have made lease accounting more difficult. Adopting IFRS 16 lease accounting, for example, has made compliance cumbersome as it involves adjusting to new policies, systems and…
Beginning in 2006, there was a concerted effort by the two accounting standard bodies (FASB and IASB) to synchronize their respective standards on leasing to assure consistency and uniformity. The…
$("#cta_display_btn").attr("href", "https://visuallease.com/gasb-product-tour"); $('#cta_display_row').find('p').text('GASB 20-Minute Product Tour Wednesdays at 1:30PM ET'); As you probably know, all government entities must comply with GASB 87, the latest lease accounting standard issued by the...
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The new lease accounting standards include a variety of disclosure reports to give financial auditors visibility into an organization’s leasing activities. Although the standards do not explicitly mention roll-forward…
Visual Lease launches the integrations hub, providing powerful, flexible & open access to lease data
Lease portfolios often account for a massive portion of a company’s risk exposure and overhead. And yet, most businesses lack visibility into their leases to understand their obligations and options – and…
