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...
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Navigating the world of lease accounting can sometimes feel like deciphering a complex code. The terms, regulations, and methodologies can leave even the savviest professionals scratching their heads. One such…
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...
Read MoreWe’re diving into the intricacies of GASB 96, a significant standard that government entities need to adopt, now that following the implementation of GASB 87 has been rolling out for...
Read MoreWhen it comes to commercial leases, there are various types and terms that can be confusing for both lessors and lessees. Among these terms are "triple net leases," "pass-through leases,"...
Read MorePerformance management in corporate real estate has matured rapidly over the last ten years due primarily to the evolution of sophisticated real estate management systems. With the advent of integrated workplace management systems(IWMS), and now cloud based point systems (like Visual Lease), CRE organizations have a wide range of options in the type and utility of portfolio management systems.
Space (square footage) is the universal unit in corporate real estate management. It defines the basis for rental, allocation of costs to different occupant groups, is the primary factor in developing space requirements for different utilizations such as offices, work stations, conference rooms, storage spaces, etc. Most companies develop a set of space standards as a means to design office layouts, allocate space to various functions, and use to forecast space demand over time.
What is ASC 842? ASC 842 is an accounting standard issued by the Financial Accounting Standards Board (FASB) that governs the accounting treatment for leases. It requires companies to recognize...
Read MoreA finance lease (formerly capital lease) transfers ownership risks and rewards to the lessee, with expenses recognized separately as asset amortization and interest. An operating lease involves no ownership transfer,...
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