GASB 87 effective date Deadline for companies Fiscal years beginning after June15, 2021 GASB 87 Summary Issued by the Governmental Accounting Standard’s Board, GASB 87 is the new lease accounting...
Read MoreLease inventories, hiring more staff and renegotiating lease terms are some of the moves private companies can take to make compliance easier.
The FASB on Sept. 21, 2022, voted by 4 to 3 to issue a proposal that would change the accounting rules for leasehold improvements in inter-company leases done by both…
FinLedger spoke with Joe Fitzgerald, senior vice president of lease market strategy at Visual Lease to discuss the report and understand the implications of the new lease accounting standards.
On-demand webinar summary How do you avoid the risks of improper ASC 842 adoption? Inaccurate lease accounting financials can result in a failed audit, additional fees and fines, so you...
Read MorePropTech Breakthrough, an independent market intelligence organization focused on real estate and property technology companies, yesterday announced its second annual PropTech Breakthrough Awards, highlighting some of the most influential and innovative…
The Financial Technology Report is pleased to announce The Top 25 Financial Technology Leaders of New Jersey for 2022. While New Jersey may be considered part of the New York…
Real estate is one of the largest operating expenses for retailers worldwide. Second only to labor costs, rent can account for more than 30 percent of expenses and, according to research from…
On-demand webinar summary Before the new lease accounting standards, many companies lacked visibility into their lease portfolio. This cost many businesses millions of dollars in overpaid rent, missed lease options...
Read MoreEven though leases typically comprise a major piece of a business’ budget, most companies don’t know how much their leases cost and many are unsure about how to account for…
The new lease accounting standards under ASC 842 are sticky, demanding, and—after multiple delays—most definitely here for all companies, whether public or private when the Financial Accounting Standards Board finally…
The new lease accounting standards under ASC 842 are sticky, demanding, and—after multiple delays—most definitely here for all companies, whether public or private when the Financial Accounting Standards Board finally…
Your business already uses Excel for many accounting calculations, including for ASC 840 lease accounting, so it’s understandable that you may want to consider continuing to use it as an…
Written by: Robert Michlewicz, President at Visual Lease I was drawn to Visual Lease for several reasons, one of the biggest is how the company is leading the market in…
Have you ever wondered how the public can participate in the development of accounting standards? Do you have opinions you would like to share? Many accounting standards governing bodies, such…
On-demand webinar summary Having accurate, reliable lease data is a necessary part of achieving lease accounting compliance. But beyond lease accounting, having visibility into lease data also supports businesses manage...
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Do you know where all your leases are? If you don’t, chances are you haven’t conducted a lease inventory for your business. Conducting a lease inventory is a standard practice…
Suppose you’re an accountant who manages leases or a lease administrator working for a state, country or local government. You may even work for a public entity such as a...
Read MoreAs part of my series about the “5 Things You Need To Know To Create a Successful App or SaaS”, I had the pleasure of interviewing Marc Betesh. Marc Betesh…
Professionals on the Move is a round-up of recent staffing announcements and promotions in and around the tax and accounting space. Carrie Summerlin Named FICPA’s New Chief Growth & Innovation…
How to make an informed decision on your lease accounting solution Investing in a dedicated lease accounting solution is the best way to achieve GASB 87 compliance. The lease accounting...
Read MoreThe introduction of lease accounting standards has forever altered how public, private and government entities manage, track and report on their leases. To understand more about the leasing sector and…
In response to the ongoing impact of the global pandemic on revenues and business operations, companies are evolving how they prioritize and manage their commercial real estate leases. Many organizations…
Company achieves double-digit YoY annual recurring revenue, customer and employee growth Woodbridge, NJ – April 18, 2022 — Visual Lease, the #1 lease optimization software provider, today announced results from…
The standard in some ways parallels the ASC 842 leases standard for public and private companies and nonprofits from the Financial Accounting Standards Board and the IFRS 16 leases standard…
The introduction of new lease accounting standards (ASC 842, IFRS 16 and GASB 87) has had a significant impact upon accounting and reporting for U.S. publicly traded and private companies,…
The past two years have shuffled business priorities and workflows, which has left many companies catching up on their transition to the new lease accounting standards (ASC 842, GASB 87,…
Majority of surveyed tenants plan to expand their commercial real estate footprint in the New Year Woodbridge, NJ (Nov. 9, 2021) Visual Lease, the #1 lease optimization software provider, today unveiled a survey of 400 senior accounting and finance…
Lease accounting compliance is not just a one-and-done disclosure. It is a new approach to accounting that includes an ongoing, cross-departmental effort – and a much higher level of scrutiny….
Table of contents Introduction Lease Accounting FAQs What is lease accounting? What are the new lease accounting standards? ASC 842IFRS 16 GASB 87 Other National Standards Why Use Lease Accounting...
Read MoreLast year, the Governmental Accounting Standards Board (GASB) voted to defer the effective date of lease accounting standard GASB 87 to give public sector entities more time to adapt to…
While 100% of surveyed companies agree on the business value of complying with the lease accounting standard, most are underconfident and unprepared for the looming deadline Woodbridge, NJ (July 29,…
Company reports key strategic investments and double-digit annual recurring revenue growth year-over-year Woodbridge, NJ – July 20, 2021 — Visual Lease, provider of the #1 lease optimization software, today announced results from…
Woodbridge, NJ – July 15, 2021 — Visual Lease, provider of the #1 lease optimization software, has been ranked among the Top 100 Software Companies of 2021 by The Software Report. Visual...
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Provides a proven and fully supported path to achieve lease accounting compliance with GASB 87 in 50 business days or less Woodbridge, NJ – July 12, 2021 — Visual Lease,...
Read MoreIn a 2020 IDC survey, 42% of technology decision makers reported that their organizations planned to invest in technology to close the digital transformation gap. We expect that number has…
Woodbridge, NJ – June 29, 2021 — Visual Lease, provider of #1 lease optimization software, has been identified by G2 as a “High Performer” in the Summer 2021 quarter for Lease...
Read MoreLast year, the Financial Accounting Standards Board (FASB) provided private companies with an extra year to adopt lease accounting standard ASC 842. When this was announced, 63.8% of surveyed private company executives…
Woodbridge, NJ – June 22, 2021 — Visual Lease, provider of the #1 lease optimization software, today announced that Guy Zerega has joined the organization as Senior Vice President of Sales, responsible...
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Woodbridge, NJ – June 21, 2021 — Visual Lease, provider of the #1 lease optimization software, has been named a Top Workplace in 2021 by NJ.com. This recognition comes on the heels...
Read MoreThe Governmental Accounting Standards Board released updated implementation guidance for its leases standard, which is going into effect soon, along with other accounting standards for state and local governments.
Lease accounting is a massive, cross-functional effort. It involves various stakeholders and systems that impact (and are impacted by) leases. It is not just an accounting problem – and goes…
In-house team regularly shares valuable insights to help companies gain confidence with their compliance to ASC 842 and GASB 87 Woodbridge, NJ – May 10, 2021 —Visual Lease, the #1 lease optimization software, now offers complimentary workshops to help organizations achieve and maintain compliance with the new lease accounting...
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Woodbridge, NJ – May 4, 2021 — Visual Lease, the #1 lease optimization software, has been honored with a Bronze Stevie® Award in the Fastest Growing Company of the Year category in...
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Company continues to make strategic investments to help organizations manage, account for and maximize every asset within their lease portfolio Woodbridge, NJ – April 19, 2021 — Visual Lease, the...
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Research uncovers how the pandemic has impacted landlords and tenants, and trends to expect within the commercial real estate market Woodbridge, NJ – January 25, 2020 —Visual Lease, the #1 lease optimization software, published its lease market trends report, which explores how the leasing industry has changed as a result of COVID-19. In 2020, the...
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Company grows its customer base by 21% and revenue by 22% YoY, emerges as the market’s leading lease optimization software Woodbridge, NJ – January 19, 2020 — Visual Lease, the...
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$("#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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Woodbridge, NJ – December 17, 2020 — Visual Lease, the leader in lease accounting and management software, today announced the company was named No. 10 on NJBIZ’s list of New...
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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…
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…
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…
With all the business closures and cutbacks due to the COVID-19 pandemic, a lot of companies are worried about not only managing their lease expenses now, but also accounting for…
Deciphering financial and contractual obligations of a lease can be a challenge. And that is especially true during an unprecedented event, such as the COVID-19 pandemic. All you really want…
The COVID-19 pandemic has impacted every company in some way. With “social distancing” and all the emergency regulations that are in place, many offices and nonessential businesses are shut down…
In an act of relief for companies during the coronavirus pandemic, the Financial Accounting Standards Board (FASB) recently voted to propose a one-year deferral of major accounting standards, including ASC…
Woodbridge, NJ — April 13, 2020 — Visual Lease, the leader in lease accounting and management software, today announced it has been named a 2020 “Best Place to Work in...
Read MoreLeading lease accounting and management solution provider expands executive team to support the next phase of its strategic growth Woodbridge, NJ - March 30, 2020 - Visual Lease, a leading provider...
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With all the new lease accounting rules you have to contend with — whether you follow ASC 842, IFRS 16, or GASB 87 — the prospect of generating lease accounting…
New GASB 87 lease accounting module provides government entities and public sector organizations with simplified lease accounting compliance Woodbridge, NJ, February 19, 2020 – Visual Lease, the leader in lease accounting...
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As of the beginning of this year, GASB 87 lease changes have gone into effect. These new lease accounting rules have a substantial impact on government entities and public institutions…
How often do you have this experience when evaluating enterprise software? The vendor gives a demonstration of an amazing solution, walking you through complex tools that do exactly what you…
The Financial Accounting Standards Board (FASB) approved its August 2019 proposal to grant private companies, not-for-profit organizations, and certain small public companies various effective date delays on its credit losses…
CFOs of private companies don’t have much time to comply with new lease accounting standards even if FASB extends the start date a year, as it has proposed.
As the standard for lease accounting software, Visual Lease provides the tools you need to achieve compliance. We make it easy to track, report, and manage your lease finances within…
Steps to Ensure a Smooth Transition to ASC 842 / IFRS 16 With the countdown to FASB/IASB lease accounting changes well underway, many organizations are scrambling to implement technology to...
Read MoreVisual Lease, a New Jersey-based lease management and accounting SaaS company, today announced Clark Convery joined its team as Chief Operating Officer. Prior to Visual Lease, Convery was General Manager of the Enterprise…
Avoiding Costly Mistakes in the Race for FASB/IASB Compliance.Don't Select A System Without Considering These Factors… 1. The Benefits of a Single System In the race to get compliant, accounting...
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