Tag Archive: FASB

Dec 02 2018

Sage Intacct and iLeasePro Announce Major Integration Enhancement

iLease Management LLC (“iLease”), developer of iLeasePro, an enterprise cloud-based Lease Management and Accounting solution, has announced a major step forward in its strategic partnership and integration with Sage Intacct, a leader in cloud-based financial management and accounting software. iLease has released the capability to take advantage of Sage Intacct’s dimension feature to seamlessly track …

Continue reading »

Aug 17 2013

Proposed Lease Accounting Standard Changes – Key Business Considerations for Lessees

I have heard it said many times that accounting results should not drive the basic economic decisions related to business. And I generally agree with that point of view. But it is difficult to ignore completely the accounting results and business analytical metrics that result from changes in accounting treatment and certainly the changes in …

Continue reading »

Feb 12 2013

Lease Accounting Update January 2013: Lease Components in a Single Lease Contract

The FASB and the IASB (“The Boards”) met on January 30, 2013 to continue further deliberations on the Lease Accounting Project. The discussions were narrowly focused on the instances where multiple lease components are contained in a single lease contract. As examples, multiple pieces of equipment could be leased under a single lease contract, a single …

Continue reading »

Jan 16 2013

Importance of Documentation and Compliance

We all know that documentation and compliance has become extremely important in our current business environment,i.e., clear and complete explanations as to why certain actions or changes have been made and the ability to identify the source of those changes. But sometimes it can be time consuming and difficult to provide the documentation and  identification of …

Continue reading »

Dec 16 2012

Lease Accounting Update December 2012

There has not been much mention over the last few months about the FASB and IASB Boards (“the Boards”) Joint Project which would result in significant changes in the manner in which leases are accounted for. The Boards have instructed the staff to revise the Exposure Draft to incorporate the tentative conclusions that have been …

Continue reading »

Mar 07 2012

February 28-29 2012 Joint FASB/IASB Board Meeting Update

The FASB and the IASB Boards (“the Boards”) met at the end of last month to discuss the status of the 2010 Exposure Draft (“the Exposure Draft”) on changes to lease accounting. The majority of the discussion centered on the lessee accounting issue. As has been the case in past meetings, the Boards again reaffirmed …

Continue reading »

Dec 08 2011

Watch for a Revised Exposure Draft

The revised Exposure Draft on Lease Accounting should be issued in the near future. All interested parties should be prepared to review it and react to the revisions as quickly as possible. The FASB and the IASB have continued to discuss some major changes from the original proposal. Balance sheet recognition of other than short …

Continue reading »

Aug 08 2011

Update on July 2011 Lease Accounting Activities

In their July 2011 meetings, The FASB and the IASB (the Boards) decided to formally re-expose the proposed lease accounting standard for public comment. The timetable for final issuance will be pushed out even further into the future. The Boards’ goal is to finish final deliberations in the third quarter of 2011 with the issuance …

Continue reading »

Jul 18 2011

Headlines from the Latest FASB/IASB Meetings

The issuance of the final standard for lease accounting will likely be delayed until the first half of 2012. At the least, there will be another draft version of the new standard made available for review and comments. There still has not been any decision made regarding the effective date of the new standard. The …

Continue reading »

Jun 28 2011

Lease Management and Accounting Tool

We have some exciting news to share with all of our readers.  iLease Management LLC will soon launch a lease management and accounting tool that will meet the critical needs of lessees as they react to the new lease accounting standards and continuously try and gain efficiency in their day to day operations.  As we …

Continue reading »

Older posts «