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…
Read More
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…
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…
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. …
Leasing vs buying is not an easy decision to make regardless of the asset involved. While there are lease vs buy analysis Excel sheets, choosing one over the other is…
A capital lease is a contract allowing a renter to use an asset temporarily. This lease shares the same economic characteristics of asset ownership in accounting, as the lease requires…
In lease accounting, deferred rent happens when the cash rental payment varies from its recognized financial statement and occurs when the tenant is provided free rent in one or more…
There have been several major changes in the way businesses address service contracts in recent years given the new standards and updates on the existing standards. For one, the new…
If you have signed an operating lease for space, built leasehold improvements, and determined that you are legally required to take out the leasehold improvement when the lease expires, then…
The Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) are not blind to the tedious task facing firms once the new standards take effect. Hence, the creation…
In this blog entry I would like to introduce the topic of CRE leadership and management. I hope to explore the topic over the next several weeks with the hope that these personal observations will be useful to those readers who aspire to make corporate real estate management a long term career.
In this morning’s New York Times, it was reported that Goldman Sachs recently consolidated from three floors to two in its major Manhattan office tower. The Times reports that “the changes in real estate have helped Goldman reduce its cost by 17 percent since 2010.” This is yet another example of the value in corporate real estate strategic planning and why I wanted to spend a bit more time on the subject.
In the last blog entry we reviewed how the strategic planning process evolved from forming the planning team, benchmarking performance indicators, and setting priority objectives. Outlined below is what the strategic plan looks like:
There’s compelling logic to combine a lease audit service with a lease management system such as Visual Lease..
