In the ever-evolving landscape of Environmental, Social, and Governance (ESG) reporting within real estate management, there has been a pivotal theme: the essential collaboration between real estate owners and occupiers,…
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In the continuing exploration of the intersection between Environmental, Social, and Governance (ESG) reporting and the evolving landscape of real estate management, our series on ESG innovation dives deeper into…
In the rapidly evolving landscape of real estate and lease management, the convergence of data standards and environmental, social, and governance (ESG) considerations marks a pivotal era of transformation. We…
Managing a complex lease portfolio across real estate and equipment in global business operations presents significant challenges. Today, we dive into an insightful transformation journey spearheaded by the Director of…
In the ever-changing world of lease accounting, staying informed and compliant with the latest standards and regulations is crucial for all organizations. Zena Thomas, a distinguished Product Owner at Visual…
In the complex world of business, understanding the difference between lease accounting and lease administration is crucial. Although they might seem similar, they each have unique and important roles when…
Woodbridge, N.J. –April 11, 2024 – Visual Lease (VL), the #1 lease optimization software provider, today announced its Q1 results, reporting sustained double-digit annual recurring revenue and customer percentage growth,…
Table of Contents ASC 842 Lease Accounting ASC 842 Summary of Changes How to calculate a lease liability under ASC 842 How to Transition to ASC 842 ASC 842: Financial...
Read MoreIt’s clear that the journey towards and beyond compliance with lease accounting standards (ASC 842, IFRS 16, & GASB 87) is fraught with challenges and opportunities. The strategic importance of…
Businesses have encountered unique opportunities to transform their lease portfolios from mere contractual obligations into dynamic, strategic assets. This evolution, spurred by effective management and the integration of cutting-edge technology,…
As businesses navigate the complexities of the post-pandemic landscape, the question of whether to lease or buy equipment is more pertinent than ever. The global health crisis, followed by economic…
In the complex accounting landscape, fund accounting is a specialized area that demands meticulous attention, especially for non-profits, universities, hospitals, and governmental entities. Fund accounting is essential for these organizations,…
In this blog post, we will provide a comprehensive breakdown of GASB 87 and explain what you need to know. Revisiting the Introduction of GASB 87 The lease accounting standard,…
Best Practices for Negotiating Ideal Lease Terms We’re diving into the intricacies of GASB 96, a significant standard that government entities need to adopt, especially following the implementation of GASB…
We’re diving into the intricacies of GASB 96, a significant standard that government entities need to adopt, especially following the implementation of GASB 87. The Essence of GASB 96 GASB…
In our latest blog post, we delve into the findings of our Visual Lease Data Institute (VLDI) research that sheds light on the evolving terrain of lease accounting. About the…
We’re delving into the complex world of lease accounting and its tax implications, particularly in the wake of the COVID-19 pandemic. We’ll share valuable insights into how businesses, especially retailers,…
Adopting the ASC 842 lease accounting standard has been one of the most impactful changes in accounting practices, particularly for private companies gearing up for compliance. Drawing from the experience…
In today’s fast-paced business environment, lease accounting has become an increasingly complex task for organizations. Manual processes and outdated tools like Excel not only pose a high risk of errors…
The management letter from auditors, typically received by CFOs after the annual audit, highlights key financial findings and suggests improvements for internal controls. It also informs about new accounting standards…
Carbon accounting and sustainability management solution recognized for empowering Enterprises with the data and visibility needed to progress toward their ESG goals Woodbridge, N.J. –February 8, 2024 – Visual Lease…
Lease optimization software provider redefines excellence with a single system of record for lease accounting, management and sustainability tracking Woodbridge, N.J. – January 18, 2024 – Visual Lease (VL), the…
Solution provider is recognized for empowering companies to leverage their lease portfolios for strategic financial and operational outcomes Woodbridge, N.J. – Dec. 21, 2023 – Visual Lease (VL), the #1…
3 Reasons to Stop Relying on Excel Spreadsheets 1. Leases are constantly changing 2. Excel can lead to non-compliance with accounting standards 3. The Office of Finance has evolved 3…
What is completeness assertion in lease accounting? Auditing completeness under ASC 842 What is audited under completeness assertion? How to ensure accurate completeness assertions Getting started with lease compliance Inaccurate…
Using ASC 842 Excel Templates How to Create Customized ASC 842 Excel Templates Best Practices for Data Entry and Formula Setup Best Practices for Document Organization Common Challenges with ASC…
Table of Contents What is a lessee? What is a lessor? Who is the lessor and lessee in a contract? Benefits for a Lessor vs Lessee How to approach accounting…
Survey reveals 84% of enterprise organizations are prioritizing lease management due to lease accounting standards and emerging regulatory requirements around environmental impact reporting Woodbridge, N.J. – Oct. 31, 2023 –…
Table of Contents How to Calculate the Present Value of Lease Payments in Excel Step 1: Organize Data Step 2: Use the PV Function Step 3: Repeat as Needed Cons…
Table of contents: What are leasehold improvements? Examples of leasehold improvements Are Leasehold Improvements Considered Lease Incentives? How leasehold improvements impact ASC 842 As you navigate the complexities of ASC...
Read MoreLease accounting and management have evolved into intricate processes, posing fresh challenges for financial leaders. From grappling with an accountant shortage to seeking enhanced lease flexibility during economic uncertainty and…
Lease management is more complicated than ever before. Tenants and landlords are navigating a lot of hurdles, including organizations’ need for greater flexibility – according to the Visual Lease Data…
Longstanding pioneer in lease management and accounting continues to advance its platform capabilities to address evolving environmental reporting requirements Woodbridge, NJ – October 16, 2023 — Visual Lease (VL), the…
California has taken a significant step toward addressing climate change by enacting the ground-breaking California Climate Accountability Package. This legislation not only sets the stage for comprehensive reporting of carbon…
Table of Contents: What are Practical Expedients? Introduction to practical expedients in ASC 842 and IFRS 16 adoption. ASC 842 Transition Methods An overview of transition methods in ASC 842...
Read MoreIn the world of commercial real estate leasing, Common Area Maintenance (CAM) charges play a pivotal role, impacting both landlords and tenants. CAM rent, often referred to as CAM fees,…
As a landlord, one of the most critical aspects of your rental property business is the lease agreement. A well-crafted lease agreement not only protects your interests but also provides…
Much like their for-profit counterparts, nonprofits must also follow specific financial reporting standards, including Accounting Standards Codification (ASC) 842. This blog post will delve into the essential aspects of ASC…
Woodbridge, NJ – September 27, 2023 — Visual Lease (VL), the #1 lease optimization software provider, today announced the winners of its annual Customer Excellence Awards, recognizing organizations that are…
Woodbridge, NJ – September 19, 2023 — Visual Lease (VL), the #1 lease optimization software provider, today announced the company’s newest offering, VL ESG Steward™, has been recognized by the Business…
Leasing arrangements are a common aspect of business operations, allowing companies to secure assets and facilities without the commitment of ownership. However, within the realm of lease accounting, there’s a…
When it comes to managing leases and financial obligations, understanding how to calculate a lease amortization schedule is crucial. This schedule not only helps you keep track of payment timing…
In the realm of business decisions, the choice between leasing and buying assets has significant financial implications. To help evaluate these options, the concept of “Net Advantage to Leasing” comes…
When it comes to real estate and leasing agreements, terms can sometimes get a bit muddled. One such pair of terms that often find themselves used interchangeably are “lessee” and…
Company’s proven SaaS solutions are recognized in first analyst report dedicated to full lease portfolio management Woodbridge, NJ – August 29, 2023 — Visual Lease (VL), the #1 lease optimization…
Leasing is a common practice in business, allowing companies to acquire assets without a hefty upfront cost. However, situations arise where a lessee wants to transition from leasing to outright…
As a company navigating the intricacies of lease accounting, you’re no stranger to the importance of maintaining accuracy and compliance. Part of this process involves undergoing lease audits, a task…
The realm of commercial leases encompasses a complex lifecycle that spans far beyond the mere agreement itself. While it’s a subject that often invites surface-level discussions, grasping the full scope…
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…
Navigating the Transition: Understanding Challenges Faced by Newly Public Companies and Strategies for Success In the dynamic landscape of public offerings, the surge in initial public offerings (IPOs) during 2020…
Company invests in its Partner network in preparation for the next stage of growth Woodbridge, NJ – August 8, 2023 — Visual Lease (VL), the #1 lease optimization software provider,…
Visual Lease, LLC (hereinafter “VL,” “we,” “our,” and “us”) appreciates being given an opportunity to comment on the Exposure Drafts published by the International Sustainability Standards Board (hereinafter the “ISSB”)…
Visual Lease, LLC (hereinafter “VL,” “we,” “our,” and “us”) appreciates being given an opportunity to comment on the Exposure Drafts published by the International Sustainability Standards Board (hereinafter the “ISSB”)…
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…
In the world of leasing agreements, there can be some confusion when it comes to the terminology used by attorneys and accountants. One such term is the “lease commencement date.”…
Contract management plays a crucial role in modern business operations, ensuring effective collaboration, risk mitigation, and regulatory compliance. With the growing importance of environmental, social, and governance (ESG) considerations, contract…
VL experts break down the recently announced sustainability reporting standards from the International Sustainability Standards Board (ISSB) The first-ever set of standards recently unveiled by the International Sustainability Standards Board…
Dedicated investments in its solutions, services and leadership expand company value Woodbridge, NJ – July 13, 2023— Visual Lease, the #1 lease optimization software provider, today announced its results from…
Lease incentives play a crucial role in lease agreements, representing payments made by the lessor either to the lessee or on behalf of the lessee. These incentives are an integral…
As businesses increasingly recognize the importance of environmental, social, and governance (ESG) factors, the concept of ESG accounting has gained prominence. This blog post aims to shed light on ESG…
In recent times, the importance of sustainability in financial reporting has gained significant traction. To address this growing need, the newly formed International Sustainability Standards Board (ISSB) has released two…
When 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,”…
Company continues to demonstrate its commitment to strategic growth and operational excellence Woodbridge, NJ – July 6, 2023 — Visual Lease, the #1 lease optimization software provider, today announced the…
Carbon accounting, sustainability management and ESG reporting tool receives global recognition on the heels of newly announced international sustainability standards (IFRS S1 and IFRS S2) Woodbridge, NJ – July 5,…
In the realm of financial management, companies are faced with critical decisions regarding capital budgeting. These decisions involve allocating funds to various investment opportunities. Additionally, companies often seek the assurance…
Lease purchase options provide companies with the opportunity to convert a lease into a fixed asset. These options allow lessees to exercise their right to purchase the leased asset during…
In the realm of financial accounting, fixed asset accounting holds significant importance for companies. It involves the meticulous tracking and management of owned assets, ensuring their existence, location, and allocation…
What is Prepaid Rent? Prepaid rent refers to lease payments made in advance for a future period. It represents an asset on the company’s balance sheet, as the prepayment can…
Leasing an asset with the intention to eventually purchase it is a common practice among businesses. Whether it’s an optional purchase at the end of the lease or a bargain…
Update: On June 26, 2023, The International Sustainability Standards Board (ISSB) announced their first two global sustainability-related disclosure standards in response to widespread demand for better transparency, consistency and reliability…
Table of contents: What is a finance lease? What is an operating lease? Key Characteristics of an Operating Lease Finance Leases vs. Operating Leases Understanding finance leases and operating leases…
Table of Contents What is Off-Balance Sheet Financing? ASC 842 Impact on Reporting Leases Importance of On-Balance Sheet Reporting Legal Regulations: The SEC’s Strict Stance Off-balance sheet financing refers to…
From Compliance to Optimization: Harnessing Lease Controls for Business Success Lease accounting standards implemented over the last few years (ASC 842, IFRS 16, GASB 87) require all organizations, whether they…
Fixed Asset Accounting: Managing Assets and Leasehold Improvements In the realm of financial accounting, fixed asset accounting holds significant importance for companies. It involves the meticulous tracking and management of…
ESG and the Future of Real Estate: How Sustainability is Changing the Industry The real estate industry is undergoing a significant transformation as sustainability becomes a top priority for investors…
Related Party Leases under ASC 842 Recently, the Financial Accounting Standards Board (FASB) introduced new rules and clarifications regarding the treatment of related party leases under ASC 842. Although these…
GAAP vs. Tax Accounting: Navigating the Complexities of Financial Reporting With the introduction of ASC 842, some private companies are struggling with the requirement to record the vast majority of…
Table of Contents What is Accrued Rent? What is Deferred Rent? Accrued Rent vs. Deferred Rent: What’s the difference? Accrued Rent Example Deferred Rent Example Key Considerations for Rent Accounting…
“Why Lease Management Shouldn’t Be Ignored: The High Cost of Underestimating Your Lease Portfolio and How to Optimize It for Your Business Needs” Many companies are underestimating the total cost…
The ongoing effects of the pandemic, evolving workplace trends and unique economic circumstances have driven businesses to reconsider how and why they enter into new leases. But how exactly are…
This is part II of our Mastering Lease Accounting Compliance series. If you missed part I, you can read it here. Adopting a lease accounting standard can have a significant…
This is part I of our Mastering Lease Accounting Compliance series. If you’re looking for part II, you can read it here. Lease accounting standards such as ASC842 and IFRS16…
Company’s innovative solutions and customer-centric approach drive accelerated growth Woodbridge, NJ – April 19, 2023 — Visual Lease, the #1 lease optimization software provider, today announced its results from Q1…
The first sustainability-focused lease tracking and reporting software designed to help companies meet their environmental policy goals Woodbridge, N.J. – March 29, 2023 — Visual Lease, the #1 lease optimization…
88% of businesses are planning for physical space needs just one year or less in advance Woodbridge, N.J. – February 22,2023 — Visual Lease, the #1 lease optimization software provider,…
In response to lease accounting standards, your business may have already set in place certain lease accounting systems and technology to achieve compliance. But did you know these solutions can…
Today, many organizations lack control over their leases, which increases the risk of making costly errors, such as overpaying or missing a date for termination or renewal. (90% of senior…
Accounting teams are often left scrambling to find lease information needed to wrap up the year and prepare for their audit. As businesses approach year-end, how can they ensure an…
What is depreciation in accounting? The 4 depreciation methods in accounting Can you change depreciation methods from year to year? Straight line method Declining balance method Units of production depreciation…
On-demand webinar summary How do you maintain confident, ongoing lease accounting compliance as your leases evolve? In our recent webinar, Why Sustained Lease Accounting Compliance Depends on Automation, lease accounting...
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On-demand webinar summary Your lease portfolio requires consistent upkeep to remain compliant with ASC 842. As your leases change, how will you stay audit-ready? In our recent webinar, How to...
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On-demand webinar summary Without a firm grip on your leases, you will likely have trouble sustaining accurate lease data. This puts your business at risk of misreporting company lease information...
Read MoreLease inventories, hiring more staff and renegotiating lease terms are some of the moves private companies can take to make compliance easier.
On-demand webinar summary Businesses commonly struggle to adapt the new methodologies and technology to achieve lease accounting compliance. In fact, one-third (33%) of private companies are still not fully prepared...
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Do your lease footnote disclosures comply with the new lease accounting standards? The footnotes of your financial statements must include certain information from your lease contracts. And with the newly…
On-demand webinar summary Are you confident that you have the resources you need to prepare your business for ASC 842 adoption? It’s important to anticipate and plan on meeting important...
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By: Joe Fitzgerald, Senior Vice President of Lease Market Strategy Spreadsheet applications are easily the most important and universal accounting tools used today—so much so that you’d never guess the…
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…
On-demand webinar summary Lease management is integral to achieve and maintain lease accounting compliance. But that’s not the only opportunity it presents. In fact, 100% of recently surveyed senior finance...
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On-demand webinar summary The latest report from The Visual Lease Data Institute (VLDI) features key findings and insights into market readiness for private companies and government entities. In our recent...
Read MoreFinLedger 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…
Private companies and government entities continue to face challenges around properly managing and reporting their leases in accordance with the new lease accounting standards Woodbridge, N.J. – July 25, 2022…
The only software provider recognized as a Leader by G2 in Lease Administration and Lease Accounting continues to achieve double-digit annual recurring revenue, customer and employee growth YoY Woodbridge, NJ…
What is lease management? What are lease management tasks? Who is responsible for lease administration? How can you optimize your lease management strategy? Why is lease management important? Lease Management…
Technical accounting expert from leading independent audit, tax and advisory firm will join the VL team to share exclusive insights on lease accounting compliance Woodbridge, NJ – June 14, 2022…
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…
On-demand webinar summary Lease accounting is an incredibly time-consuming, complex endeavor that involves a lot of initial preparation, cross-departmental collaboration and ongoing maintenance. So, how can businesses ensure their lease…
On-demand webinar summary Do you know if you are overpaying for your leases? Unfortunately, many businesses are, but are not aware of it until after they begin tracking their lease…
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…
The new lease accounting standards have radically changed the way private and public companies record leases on the balance sheet. Naturally, this had a direct impact on lessees, lessors and…
On-demand webinar summary According to a recent VLDI survey, 35% of private companies were less than halfway through or had not yet started the process of gathering information needed to…
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…
Industry leader continues to host virtual events to help companies master lease accounting compliance Woodbridge, NJ – April 12, 2022 —Visual Lease, the #1 lease optimization software provider, announced its…
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,…
Table of Contents What is GASB 96? Who does GASB 96 apply to? What is a SBITA under GASB 96? What is an Example of a SBITA? What contracts are...
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The Financial Accounting Standards Board (FASB) recently issued an update to ASC 842 that addresses complexities associated with discount rate calculations. In this blog, we share how this update affects private…
Company achieves double-digit YoY annual recurring revenue and customer growth for fourth consecutive year Woodbridge, NJ – January 20, 2022 — Visual Lease, the #1 lease optimization software provider, today…
Industry leader to host a series of virtual events, sharing valuable insights to help companies master lease accounting compliance Woodbridge, NJ – January 11, 2022 —Visual Lease, the #1 lease optimization software…
Chances are you’ve already tangled with the ASC 842/IFRS 16 changes in standards determining how organizations should be accounting for leases on the balance sheet. The effective date for implementing…
Private companies, the largest business demographic in the U.S., have to adopt the FASB’s new lease accounting standard starting this month, but many are still lagging in those efforts.
The ongoing impacts of Covid-19 are greatly changing leasing life cycles and accounting workflows. This pressure, coupled with the new lease accounting standards and looming compliance deadlines, is pushing financial…
What is lease capitalization? Lease capitalization is the act of recording Right-of-Use Assets and related lease obligations on a company’s balance sheet, as required for the lease accounting standard ASC…
Joe FitzgeraldSVP of Lease Market StrategyVisual Lease On November 10, 2021, The Financial Accounting Standards Board (FASB) decided not to issue a third delay to the ASC 842 effective date for private companies. It was widely agreed that after two prior...
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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...
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Under the FASB ASC 842 standard for lease accounting, organizations face significant changes including both new disclosures and specific requirements for how to report those disclosures. For instance, in the…
The upcoming FASB accounting changes are not only a challenge for corporate accounting teams, but also for the commercial real estate group. To get you up to speed, here’s an…
ASC 842 Lease Accounting Balance Sheet Examples The Federal Accounting and Standards Board (FASB) created the new lease accounting standard (ASC 842), which has raised questions about how balance sheets...
Read MoreLeasing is perhaps one of the most pervasive forms of financing in the global economy, yet traditional accounting standards remain essentially silent on the off- balance sheet treatment of leasing....
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Are you beginning to plan for your transition to ASC 842? Learn about the biggest ASC 842 balance sheet changes, the important implications of the changes, and get access…
Private companies are facing a deadline on implementing the new lease accounting standard, but recent updates in the rules could make an impact on their financial statements and disclosures.
The financial world has a never-ending list of new standards and practices to adhere to, many of which intersect with the world of corporate real estate.
Visual Lease, the #1 lease optimization software provider, today unveiled the results of an in-depth study of 500 senior finance and accounting professionals analyzing where companies are in their efforts…
Visual Lease unveiled the results of an in-depth study of 500 senior finance and accounting professionals analyzing where companies are in their efforts toward achieving compliance with ASC 842. The report…
Package provides robust tech capabilities and all-inclusive implementation and support required to achieve lease accounting compliance with ASC 842 Woodbridge, NJ – August 10, 2021 — Visual Lease, the #1 lease…
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...
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There is power within your lease portfolio. Over the last year, public and private businesses have taken a closer look at their leases – and experienced the downstream benefits of…
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…
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...
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This article originally appeared here in Forbes. As a result of Covid-19 and the changing landscape related to leases, private companies have received more time to prepare for and adopt…
This article originally appeared here in Forbes. In 2020, many companies were forced to make tough decisions regarding their leased commercial spaces. From office closures to consolidations and deferrals, many…
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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Lease accounting (ASC 842, IFRS 16 or GASB 87) is not your average one-and-done disclosure. This whole new approach to accounting requires you to account for lease changes throughout the year with a higher level of scrutiny. A…
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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Among the many different calculations used in lease accounting, the incremental borrowing rate may be one of the most misunderstood. The incremental borrowing rate (IBR) is the interest rate a lessee would…
What is Deferred Rent Under ASC 842? In lease accounting, deferred rent happens when the cash rental payment varies from its expense recognized on the financial statements and occurs when the tenant is provided free rent in one...
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Table of Contents What is a lease term? Lease lengths defined under ASC 842 Long-term leases under ASC 842 Short-term leases under ASC 842 Month-to-month leases under ASC 842 ASC…
What are rent concessions? Rent concessions are discounts, incentives, or other benefits provided by landlords to tenants. Landlords sometimes offer rent concessions to entice tenants to sign a new…
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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Beginning in 2006, there was a concerted effort by the two accounting standard bodies (FASB and IASB) to synchronize their respective standards on leasing to assure consistency and uniformity. The…
$("#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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Table of Contents What is a roll-forward report? The importance of roll-forward reports Roll-Forward Reports: Meeting Lease Accounting Standards The advantages of roll-forward reports Creating Comprehensive Roll-Forward Reports Why…
What is an embedded lease? Simply put, embedded leases are components within contracts that entail the use of a particular asset, where the user has control over that asset. You…
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. …
Expansive demand for robust lease accounting and management solutions drives 1,193% revenue growth over a three-year period Woodbridge, NJ – November 18, 2020 — Visual Lease, the leader in lease...
Read MoreIn the current economic environment, businesses are searching for new ways to save cash. However, they often overlook one critical aspect of their business: real estate management. Real estate leasing…
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…
As COVID-19 has wreaked havoc on the CRE industry, many tenants have been forced to make tough decisions when it comes to commercial real estate leases. Marc Betesh, founder and…
The Financial Accounting Standards Board (FASB) has issued a proposed Accounting Standards Update (ASU) intended to improve three areas of the leases guidance.
Latest software release delivers lease portfolio management functionality to help customers more effectively address COVID-19 impacts Woodbridge, NJ – October 9, 2020 – Visual Lease, the leader in lease accounting and management...
Read MoreSelf-service, video-based instruction helps customers maximize the use of their lease lifecycle management solutions Woodbridge, NJ — October 1, 2020 — Visual Lease, the leader in lease accounting and management...
Read MoreFollowing the FASB’s recent decision to extend the deadline for its ASC 842 standard for a second time, privately held companies have an additional 12 months to prepare to comply…
Interactive tool creates custom project plans around FASB and GASB compliance target dates, and guides companies through every step of the process Woodbridge, NJ — September 25, 2020 — Visual Lease,...
Read MoreLease accounting and management consulting expert to inform product innovation and support GTM thought leadership Woodbridge, NJ – September 21, 2020 — Visual Lease, the leader in lease accounting and...
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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…
Many private companies breathed a sigh of relief when the deadline for transitioning to FASB’s newest lease accounting standard was once again extended — this time, until 2022. But make…
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…
For many businesses and their accounting departments, the recent move to the new ASC 606 revenue recognition rules from the Federal Accounting Standards Board (FASB) was eye opening. The process…
The start of the new year means planning for what you need to accomplish in 2020. For accounting teams in private companies, there’s a big task on your plate this…
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…
In attempt to become compliant with the new lease accounting standards, particularly ASC 842 and IFRS 16, there are many intricate details that accountants often have questions about. Today we’ll…
Looking to select the best software for the new lease accounting standards? Due to the tight compliance timelines and complex lease information, this decision can be a difficult one to conquer….
If you’ve been reading up on preparing for the transition to FASB’s new ASC 842 accounting standard, you may have heard that lease data collection is complex and time consuming….
With the new FASB/IFRS lease accounting standards, significantly more assets and liabilities must now appear on the balance sheet. Yet, some businesses still aren’t using lease accounting software to help…
With the big push to achieve compliance, a lot of businesses have been laser-focused on making the transition to the new FASB/IFRS lease accounting requirements. While that is understandable, it’s…
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…
You did it! You made the smart decision to purchase a lease accounting solution to help you ensure compliance with the latest accounting guidelines and reporting requirements. Now comes the…
This week, U.S. accounting rulemakers voted in support of giving private companies an extra year to comply with the recently-adopted lease accounting rules. Companies now would have until 2021 to…
Until recently, Corporate Real Estate (CRE) and Accounting departments had little reason to talk to each other. ht CRE is primarily responsible for obtaining space and managing facilities-related issues. The…
Over the past few years, Visual Lease has helped hundreds of public companies achieve compliance with the new lease accounting standards. For many organizations, real estate lease accounting turned out…
The stakes are high when it comes to choosing a lease accounting platform, because it directly affects the accuracy of your company’s financial reporting. Just about every firm working to…
The challenges of lease accounting data collection for distributed firms Getting ready for compliance with the new lease accounting standards (FASB ASC 842 and IFRS 16) is a complex and…
For private companies faced with adopting ASC 842 and/ or IFRS 16 this year, there are many complex lease accounting decisions to make. These decisions impact not only your compliance…
If you’re a private firm just beginning to prepare for compliance with the new lease accounting standards (FASB ASC 842 and IFRS 16), consider yourself extremely fortunate. While you certainly…
For private companies just beginning to think about adopting the new lease accounting standards, it may seem like you’ve got plenty of time. The lease accounting compliance deadline for a…
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…
Can your lease accounting software find lease payment mistakes? Were you under the impression that lease accounting software could only perform accounting calculations and add information to your balance sheet?…
If you work for a public company, you are probably breathing a sigh of relief after achieving lease accounting compliance with the new standards just in time for the deadline…
New lease accounting standards are sweeping the industry, bringing about significant change and challenges for entities of all sizes and industries. For most companies, the changes take effect beginning in...
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Journal entries for the new lease accounting standards: are you getting the intelligence you need? As the deadline for complying with FASB lease accounting changes draws closer, financial leaders are…
The upcoming lease accounting changes mandated by FASB and IASB have dramatically increased the scope and complexity of lease reporting requirements for every organization that has leased assets (which is…
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…
For public companies who must comply with FASB ASC 842 and/or IFRS 16 within a few short months, how to get ready FAST is the critical question. The fact is,…
For most corporate attorneys, FASB ASC 842 compliance is an accounting exercise that is only vaguely on their radar (if at all). Here is why that is as a major…
As a lease accounting solution provider, we talk to finance leaders every day who are facing the deadline for FASB ASC 842 and/or IFRS 16 compliance. Not surprisingly, we hear similar…
As the deadline approaches for compliance with the new lease accounting standards, many companies are scrambling to choose a lease accounting tool. Just about everyone we speak to has the…
Preparing for the FASB lease accounting changes is time-consuming, and there are many tasks you’ll need to complete before the deadline so you’re ready to comply. Getting software for the…
Back in 2016 when FASB released their new lease accounting standard changes, the implementation deadline seemed far away and there were more immediate accounting issues to deal with (such as…
Lease modification accounting is a subject that isn’t getting as much attention as it should… yet. That’s going to change the closer we get closer to the deadline for IFRS…
For every organization that’s purchasing lease accounting tools to comply with the new FASB and IFRS standards (which is just about everyone), data security is a major concern.
As you prepare to implement the new lease accounting standards, you’re going to have questions and you’re going to need lease accounting guidance. Certainly you’ll turn to your accounting advisory…
Why measure and optimize equipment lease performance? Most large, global organizations have some form of management and oversight in place for their real estate leases. After all, those leases represent…
Achieve fast compliance and long-term value with Grant Thornton and Visual Lease’s joint lease accounting solution With the enactment of the new IFRS 16 & ASC 842 (FASB) lease accounting…
With FASB compliance less than a year away, Visual Lease is doing all we can to smooth the transition — including delivering a new lease accounting update designed to make…
FASB lease accounting is changing the game not only for companies with leases, but also for the real estate brokers who help them to manage their property leases. Now, in…
For corporate real estate decision-makers, will the new lease accounting standards make an already challenging job even more difficult? You already have many factors to consider when choosing locations, negotiating…
We know you’ve got questions about the IFRS and FASB changes related to the new lease accounting standards. Even if you’ve carefully reviewed FASB ASC 842 and IFRS 16, it’s…
Good news for companies facing FASB compliance in 2019 There’s good news on the FASB compliance front, which is not quite official yet but should be finalized any day now….
Organizational Challenges & the New Lease Accounting Standards There are many organizational models that are used to manage corporate real estate. Companies adopt primarily two models: centralized and decentralized. In…
Lease accounting software has become a necessary expense for most organizations due to the new IFRS and FASB lease accounting standards. However, choosing wisely can save more money in operating…
Lease accounting changes: the onus and the opportunity It’s no secret: the lease accounting changes required by FASB ASC 842 and IFRS 16 have put a significant burden on companies,…
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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Because of the new FASB and IFRS lease accounting changes, leases are an increasingly visible part of your organization’s financial reporting. Leases are now being carefully scrutinized by everyone, including…
As organizations are preparing to adopt the new FASB and IFRS lease accounting standards, virtually all must choose new technology to facilitate the process. And many are under the assumption…
In recent weeks, we’ve been participating in some insightful events with corporate Controllers, CFOs, CAOs, global accounting firms, and other members of the financial leadership community, including the Controller Summit…
As your organization begins collecting the necessary data to comply with the new FASB lease accounting rules, it won’t take long before you realize that you won’t get everything from…
Think you have all the data you need for ASC 842/IFRS 16 compliance? Think again. Extracting data for ASC 842 transition or IFRS 16 compliance is more than a numbers…
With deadlines looming, organizations are racing to get the lease data necessary to comply with updated FASB ASC 842 and IASB 16 rules — especially the public companies that have…
As organizations worldwide prepare to transition to the new lease accounting standards, FASB ASC 842 & IASB IFRS 16, accounting teams are anticipating a heavy workload to prepare for the…
Changes are coming — is your organization ready? The Financial Accounting Standards Board (FASB) is gearing up to align U.S. standards with global accounting standards, increasing transparency in financial reporting…
A key process for the CRE executive is overseeing the site selection process, particularly for major office, data center, or manufacturing sites. I’m going to focus on office site selection since this typically represents the most frequent type of leasing actions.
It was early summer of 1995, and I was aboard a French SST Concord traveling at roughly Mach3 from New York to Paris..
The long awaited new lease standard has arrived! The International Accounting Standards Board (IASB) released its version of the new lease standard last week with implementation scheduled for early 2019. The US accounting standards board (FASB) is expected to release its version shortly with implementation to follow soon after IASB’s.
With the New Year it’s a good time to take stock of the corporate real estate domain and consider the challenges facing the managerial profession responsible for the corporation’s real estate assets and services in the year ahead. Here are five major challenges if dealt with effectively will determine in part the success of corporate real estate in 2016.
In a earlier white paper, The Lease Accounting Tsunami; Are You Prepared to Weather the Storm?, I wrote that users should evaluate the effects of the new FASB/IASB on a company’sdebt structure, debt to equity, and other factors that would be affected by the new standard, assuming lease liabilities would be considered as debt. In point of fact, the FASB explicitly decided that Type B lease liabilities should not be considered as “debt.” However, the IASB which treats all leases as Type A leases or capital leases, does consider these liabilities as “debt-like liabilities.” (Their exact words) As one of my accounting friends advised “The accounting for Type A leases requires IASB companies to record interest expense, and segregates payments on the lease liability into operations and financing outflows per the cashflow statement, which is consistent with debt.”
Thus, US companies will experience less impact from the new standard, particularly as it relates to debt covenants, debt to equity metrics, and capital structures. But US companies with significant international lease portfolios subject to the IASB standard, will see their debt levels increase.
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:
We are frequently asked why we need a new FASB lease standard.. here are our thoughts…
There’s compelling logic to combine a lease audit service with a lease management system such as Visual Lease..
