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Is Excel good for lease accounting? 1. Lease terms constantly change, and it’s hard to keep up 2. Lease accounting calculations are complex and time consuming 3. Excel spreadsheets are…
Is Excel good for lease accounting? 1. Lease terms constantly change, and it’s hard to keep up 2. Lease accounting calculations are complex and time consuming 3. Excel spreadsheets are…
Lease 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.
PropTech 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…
Even 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…
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…
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…
As 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…
The 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….
Last 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…
In 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…
Last 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…
The 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…
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…
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…
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…
Visual 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…