As you probably know, all government entities must comply with GASB 87, the latest lease accounting standard issued by the Governmental Accounting Standards Board, with reporting for the period beginning…
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The Visual Lease blog
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 reporting, they do require companies to explain changes to leases on the balance sheet — disclosing not only amounts gained or…
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…
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…
What are embedded leases? 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 might…
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. …
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…
