In today’s fast-paced business landscape, small and mid-sized businesses (SMBs) face numerous challenges in managing their financial operations efficiently. As a business owner, you may be wondering “Do I need…
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The Visual Lease blog
Table of Contents What is a lessee? What is a lessor? Who is the lessor and who is the lessee in a lease agreement? Benefits for a lessor vs lessee...
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Table of Contents What is ASC 842? ASC 842 vs ASC 840: Summary of Changes Why was ASC 840 replaced with ASC 842? Additional ASC 842 Lease Accounting Updates ...
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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…
Table of Contents What is GASB 96? Recent GASB 96 Updates Who does GASB 96 apply to? What is a Subscription-Based Information Technology Arrangement (SBITA) under GASB 96? What is...
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GASB 87 effective date Deadline for companies Fiscal years beginning after June15, 2021 GASB 87 Summary Issued by the Governmental Accounting Standard’s Board in June of 2017, GASB 87 is...
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By: Mark McDonald, President CoStar Real Estate Manager and Visual Lease Six months ago, Visual Lease joined the CoStar Group to bring together two market leaders in lease lifecycle management—and...
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Lease Accounting Software – Why companies are switching solutions The transition to the new lease accounting standards brought leases into focus for the office of finance, often for the first...
Read MoreFrom time to time clients raise the question of the difference between corporate real estate and facilities management. In essence, they’re asking why we have two different professional designations since they both seem to have the same responsibilities. But the two professions have distinct differences and responsibilities. Here we explore these differences and attempt to bring clarity to the issue.
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...
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