Feb 19 2016

FASB expected to finalize lease accounting standards on Thursday, February 25, 2016

According to Bloomberg BNA website, on Thursday February 25, 2016 the FASB plans to release its long-gestating standard on lease accounting. http://www.bna.com/feb-25-lessees-b57982067497/

Feb 13 2016

FASB hoping to issue lease accounting standard by February 29, 2016

The Financial Accounting Standards Board LEASE ACCOUNTING Feb. 9: New U.S. lease accounting rules that will leave deep impacts on many companies’ balance sheets are expected to be issued in the last week of February, sources at the Financial Accounting Standards Board told Bloomberg BNA. FASB hopes to issue the final lease accounting standard after …

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Feb 08 2016

Six Reasons Not to Use Spreadsheets for Lease Management and Accounting

A change in lease accounting has recently been finalized which will affect many business entities throughout the world. The accounting change will make lease management and accounting more complex. The new accounting model will require more sophisticated financial calculations and will mandate more monitoring and tracking of lease details. A recent survey found that more …

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Jan 18 2016

IFRS 16 Leases

On January 13, 2016, the International Accounting Standards Board (“IASB”) issued International Financial Reporting Standard 16 Leases (“IFRS 16” or “the Standard”) substantially changing the manner in which lessees account for leases. IFRS 16 is effective for annual periods beginning on or after January 1, 2019. The Financial Accounting Standards Board is expected to issue …

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Jan 06 2016

IASB expected to issue the new lease standard on Wednesday, January 13, 2016

According to the Massachusetts Society Of CPAs, the IASB is expected to issue the new lease standard on January 13, 2016 – next Wednesday. They also expect that the FASB will issue the same standard on that day.

Nov 12 2015

Lease Accounting Standard Effective Date

At its November 11, 2015 meeting, the Financial Accounting Standards Board (“FASB” or “the Board”) decided in principle to approve the proposed changes to lease accounting. We would expect that the final leases standard would be published in the first quarter of 2016. Additionally, at this meeting, the FASB decided that for public business entities, …

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Oct 21 2015

October 2015 Lease Accounting Update

The lease accounting project is getting much closer to finalization. At its October meeting, the Financial Accounting Standards Board (“FASB” or “the Board”) discussed the comments received as a result of an external review of the latest draft document. Although a significant number of comments were received, the Board made few changes to the proposed …

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Oct 06 2015

Middle Market, Technology and iLeasePro

The October 6, 2015 edition of the Wall Street Journal contained a Journal Report dealing with the biggest opportunities and threats that Middle Market companies face. In what may be surprising to many, the WSJ defines Midsize Companies as those that have revenues between $10 million and $1 billion (these are companies of substantial size …

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Sep 25 2015

Technology Performance Attributes

Most measures of productivity are presented in the form of Key Performance Indicators (“KPIs”). However, we at ILeasePro believe that there are other performance attributes  which may not be quantifiable in the sense of KPIs but are equally important to consider in making a selection of a technology solution. When we designed iLeasePro, we considered …

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Sep 02 2015

New Lease Standard is on the Horizon

There has not been much publicity over the last two months about the proposed changes to lease accounting. However, it is our understanding the staffs of the Financial Accounting Standards Board (“FASB”) and the International Accounting Standards Board (“IASB”) (collectively “the Boards”) are near completion of a final standard to be issued by each of …

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