Stay Informed
iLeasePro Newsletter

Expert Knowledge to Your Inbox - SignUp Now!

Lease Management & Lease Accounting Blog

Category

New Lease Accounting Standard on the Horizon: Key Changes Ahead

In the past two months, there has been a notable silence surrounding the proposed changes to lease accounting. However, it’s important to understand that behind the scenes, the staffs of the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have been diligently working towards finalizing a comprehensive standard. This collaborative effort…

Understanding Lessee Disclosures in Lease Accounting

There has been much focus on the specific calculations required to comply with the proposed leasing standards. However, with the final standard expected to be issued in the fourth quarter of this year, financial statement preparers should also focus on the proposed disclosure requirements. The Financial Accounting Standards Board (“FASB”) and the International Accounting Standards…

Lease Accounting Project: February 2015 Update

The Financial Accounting Standards Board (“FASB”) and the International Accounting Standards Board (“IASB”), collectively (“the Boards”) met separately in February 2015 and substantially concluded their redeliberations on the proposed changes to lease accounting. The Boards came to different conclusions on a number of matters. Regarding lessee transition to the new accounting standard, the FASB decided…

The Proposed Lease Accounting Changes and Their Effect on Retailers

The Financial Accounting Standards Board (“FASB”) and the International Accounting Standards Board (“IASB”) (collectively “the Boards”) are in the process of completing a major Joint Accounting Project which will dramatically change the way that lessees account for their portfolio of leases. The objective of the Boards’ Joint Project was convergence on lease accounting, namely, an…

Recap of the December 16, 2014 FASB/IASB Lease Accounting Meeting

The topic of leases has been an ongoing point of discussion for the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB). They have been diligently revisiting the proposals outlined in the May 2013 Exposure Draft on Leases, with a particular focus on refining the definition of what constitutes a lease. During…

Understanding the Definition of a Lease Under ASC 842

The Financial Accounting Standards Board (“FASB”) and the International Accounting Standards Board (“IASB”) (collectively, “the Boards”) met earlier this week to continue their deliberations on the Joint Lease Accounting Project. The meeting focused specifically on the definition of a lease and the Boards reiterated the conclusions that they had reached in their Joint Meeting in…

Getting Started with Preparing for Lease Accounting Changes

The Financial Accounting Standards Board (“FASB”) and the International Accounting Standards Board (“IASB”) are proposing major changes in the accounting for leases for both lessees and lessors, with the major emphasis being directed to the lessee community. The result of these changes will be the elimination of the operating lease form of accounting, except for…

Maximizing Technology for Efficient Lease Management

Lessees often underestimate the transformative power of technology when it comes to effectively managing their lease portfolios. Within the complex landscape of lease agreements, there are frequently option features and triggering events buried in the fine print that demand vigilant monitoring. Relying on outdated methods such as Excel spreadsheets or paper files stashes in cabinets…

FASB Lease Project Update: Meeting Highlights from August 27, 2014

The Financial Accounting Standards Board (“FASB” or “the Board”) met on August 27, 2014 to deliberate the proposed lease accounting standard project. Although this is a joint project with the International Accounting Standards Board (“IASB”), this was a FASB only board meeting.

July 23, 2014: Highlights from the Joint Board Meeting

On July 23, 2014, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB), collectively referred to as the Boards, convened to advance discussions regarding their Joint Proposal on Lease Accounting. These discussions, primarily focused on lessee accounting issues, delved into the intricacies of accounting for sale and leaseback transactions, shedding light…

CPA Call to Action: Addressing Lease Accounting Changes

Have you started thinking about how the Lease Accounting changes will impact your clients? We hope so!! We’ve written this free whitepaper for you, a CPA with real-world responsibility to your clients. This whitepaper has been written specifically for you as a CPA to help you better understand the opportunities available for you to add…

Highlights from the October 22, 2014 FASB and IASB Joint Meeting

We’ve written this free whitepaper for bank executives with real-world responsibility. We’ve all seen endless hypothetical blather about the proposed lease accounting changes - but most of it is generic…for someone with a lease. So we created a fully researched and documented deep dive into the specific implications to banks. It covers topics that aren’t…

Implications of Lease Accounting Changes for the Banking Industry

We’ve written this free whitepaper for bank executives with real-world responsibility. We’ve all seen endless hypothetical blather about the proposed lease accounting changes - but most of it is generic…for someone with a lease. So we created a fully researched and documented deep dive into the specific implications to banks. It covers topics that aren’t…

Whitepaper: Impact of Lease Accounting Changes on the Banking Industry

We’ve written this free whitepaper for bank executives with real-world responsibility. We’ve all seen endless hypothetical blather about the proposed lease accounting changes - but most of it is generic…for someone with a lease. So we created a fully researched and documented deep dive into the specific implications to banks. It covers topics that aren’t…

How to Compare Multiple Leases Effectively in Negotiations

In a previous Blog posting, we introduced our readers to the Lease Analysis component of iLeasePro, our comprehensive lease management technology solution specifically designed for lessees. We indicated that Lease Analysis is an invaluable tool that supports lease negotiations and lease reassessment by providing the user with the technology for evaluating all the financial terms…

iLeasePro Beta Version Launches with Advanced Lease Management

iLease Management LLC is pleased to announce it has released the Beta version of iLeasePro. iLeasePro is a SaaS Lease Management and Lease Accounting solution in the Cloud specifically developed for Lessees or Tenants of Real Estate and Equipment leases. iLeasePro has been developed by experienced real estate and accounting professionals not only to address the upcoming FASB…

Discover iLeasePro’s Advanced Lease Analysis Capabilities

In planning the development of iLeasePro, it was particularly important that our technology users have a comprehensive technology tool that provides the ability to evaluate, manage and account for leasing transactions. That is why the Core Functionality of iLeasePro is broken down into three components that are fully integrated within one technology: Lease Analysis; Lease…

Joint FASB/IASB Roundtable Discussion on Leases

Earlier this week, I attended one of the Joint FASB/IASB Roundtable session on Leases held in Norwalk CT. There were only about 15 attendees from those who submitted comment letters which was somewhat surprising since there were close to 600 comments letters submitted. Numerous FASB and IASB Board members and staff were also in attendance….



Related: iLeasePro Free Trial, iLeaseXpress, iLeaseXpress Unlimited, ASC 842 Financial Reporting, ASC 842 Balance Sheet Reporting, ASC 842 Income Statement Reporting, ASC 842 Cash Flow Reporting, ASC 842 Statement of Shareholder Equity, ASC 842 Disclosure Notes, ASC 842 Management Discussion, ASC 842 Comprehensive Income, ASC 842 Glossary of Terms, ASC 842 Journal Entries, ASC 842 Software, When Is the ASC 842 Compliance Date, FASB Lease Accounting Software, Understanding the New FASB ASC 842 Lease Accounting Standard, How Does a Lease Balance Sheet Change After the New Standard?, Tracking Lease Details After ASC 842, Deferred Rent Explained Under the ASC 842, Guide to Lease Classification, Overview of Relevant Borrowing Rate, ASC 842 Footnote Disclosure, Lease Accounting, What Does Lease Accounting Software Do?, Key Features of A Lease Accounting Software, How to Never Miss Important Lease Dates, Scaling Your Lease Accounting Software to Your Business Needs, How to Select the Right Lease Solution, How to Set Up Lease Accounting Software, What is the Best Lease Accounting Software?, Overview of the Types of Leases, Equipment Lease Software, How the Right Lease Management Software Makes Equipment Leases Easier, Lease Tracking Software, How The Right Software Can Help You Manage Lease Data, Five Benefits of a SaaS Lease Management Solution, A Centralized Lease Portfolio Making Asset Management Easier, Lease Analysis 101, Lease Analysis: The Financial Metrics, Lease Abstraction, The Importance of Lease Abstraction for Lessees, The Lease Data an Abstract Should Include, What Software Do I Need for Lease Abstracting?, Navigating The ASC 842 Accounting Audit, Ultimate Lease Accounting Audit Checklist, Essential Guide To Engaging Auditors, Leveraging AI for Enhanced Year-End Audits Transitioning to the ASC 842 Standard Lease Document Management ASC 842 Short-Term Leases Practical Expedients Lease Modifications & Remeasurements Lease Variable Payments Embedded Leases Monitoring Critical Lease Dates Transportation - Navigate the ASC 842 The Impact of the ASC 842 on Regulatory Policies in Lease Management & Lease Accounting Integrating Lease Accounting into Your Month-End Closing Process The Modified Retrospective Approach in ASC 842 Determining the Incremental Borrowing Rate