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News Stories (93 Results) - Lease Accounting

Michael Keeler, the CEO and founder of LeaseAccelerator, has been named to the Washingtonian Magazine Tech Titans 2019 List as an Entrepreneur Honoree.The annual list published by Washingtonian Magazine identifies the most important and innovative... Read Story
October 14, 2019, 07:03 AM


Just 26.3 percent of public company executives report their implementation of the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board lease accounting standards is complete, according to a June 2019 Deloitte... Read Story
September 17, 2019, 07:17 AM


AMTdirect, a technology and software company for lease administration and lease accounting, announced the expansion of its executive team with the appointment of Patrick Milburn as the company’s new Chief Technology Officer (CTO). The move comes as a... Read Story
September 16, 2019, 07:05 AM


LeaseAccelerator released a new report analyzing the financial reports and disclosures of S&P 500 companies that have adopted the new lease accounting standards. Reporting a collective total of $503 billion in operating lease liabilities and $69... Read Story
June 26, 2019, 06:30 AM


With the Financial Accounting Standards Board's new lease accounting standard deadline now past for public companies, the challenge has shifted to private organizations to adopt the requirement by 2020. A Robert Half and Protiviti survey of CFOs at... Read Story
June 14, 2019, 07:30 AM


Two professional groups have asked the Financial Accounting Standards Board to delay the private company implementation date for new lease accounting rules by a year, the Wall Street Journal reported.The American Institute of Certified Public... Read Story
May 15, 2019, 07:30 AM


Nearly half of public company executives see no slowdown ahead in the time and effort to be spent on compliance with the new lease accounting standards issued by the Financial Accounting Standards Board and the International Accounting Standards... Read Story
April 02, 2019, 07:20 AM


LeaseAccelerator announced that IFRS 16 lease accounting expert John Kuett has joined the company as its new Vice President, Lease Accounting EMEA.  Kuett brings over 20 years of experience leading financial reporting, accounting and compliance for... Read Story
February 27, 2019, 07:00 AM


LeaseAccelerator announced Tracy Henriques has been promoted to Chief Customer Officer. Henriques will assume responsibility for all post-sales activities with customers and business partners, including professional services, partner success... Read Story
February 11, 2019, 07:07 AM


LeaseAccelerator has developed a testing application called the Lease Accounting Validator that automates the testing of leases under the new ASC 842 and IFRS 16 standards, as well as frozen GAAP. With the initial deadlines passed on Jan. 1, public... Read Story
February 08, 2019, 07:15 AM


LeaseAccelerator announced that more than 50 Oracle-centric companies have selected its SaaS application to comply with the new IFRS 16 and ASC 842 standards. LeaseAccelerator offers a global lease accounting engine and dedicated subledger that can... Read Story
January 21, 2019, 07:10 AM


New standards for lease accounting became effective on Jan. 1 for companies with calendar year ends – but research from KPMG shows that some organizations have fallen behind with their projects and will now be using interim solutions to enable... Read Story
January 11, 2019, 07:25 AM


LeaseCrunch announced it has successfully completed a System and Organization Controls (SOC) 2 Type I Audit examination by international business advisory firm Skoda Minotti.SOC 2 engagements are performed in accordance with the American Institute of... Read Story
January 04, 2019, 07:00 AM


Visual Lease LLC, a New Jersey-based lease management and accounting software-as-a-service company, announced Clark Convery joined its team as Chief Operating Officer. Prior to Visual Lease, Convery was General Manager of the Enterprise Segment and... Read Story
November 05, 2018, 07:10 AM


LeaseAccelerator announced Amy Long has joined the company as the Vice President of Talent Development. Long brings over 20 years of experience at high-growth technology companies implementing and building out all human resource functions, including... Read Story
October 12, 2018, 07:07 AM


LeaseAccelerator has published a 90-Day Countdown Checklist for project teams in the final stages of preparing for the new lease accounting standards. One of the biggest accounting changes ever, the new ASC 842 and IFRS 16 standards will see almost... Read Story
October 09, 2018, 07:05 AM


LeaseAccelerator announced that The Silicon Review Magazine has named it among the “50 Innovative Companies to Watch in the Year 2018.” The publication has selected LeaseAccelerator based on its customer retention health, open innovation... Read Story
August 09, 2018, 07:10 AM


As the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) lease accounting standards' effective date for U.S. publicly traded companies nears on Jan. 1, 2019, executives continue to indicate concern over... Read Story
August 02, 2018, 06:55 AM


Months from the Jan. 1, 2019 deadline, public companies are struggling to address embedded leases, lease abstracting and integrating new lease accounting software within legacy systems in their efforts to achieve compliance with the Financial... Read Story
July 31, 2018, 07:15 AM


LeaseAccelerator announced the release of its Who is Most Impacted by the New Lease Accounting Standards report, a ranking of the US public companies with the largest leasing obligations. The report includes total operating lease obligations for the... Read Story
July 27, 2018, 07:15 AM


To help organizations comply with the new lease accounting standards, Axiom announced the launch of its Contracts Intelligence Platform for Lease Accounting.Trillions of dollars of lease obligations are set to hit corporate balance sheets in December... Read Story
July 17, 2018, 07:07 AM


LeaseAccelerator announced a $30 million investment in Series B Funding from Insight Venture Partners, a New York-based venture capital and private-equity firm. In conjunction with the financing, Peter Sobiloff, Managing Director at Insight Venture... Read Story
June 27, 2018, 07:20 AM


Although the deadlines to adopt the Financial Accounting Standards Board's new lease accounting standard draw closer, many firms have yet to approach the starting line. A Robert Half and Protiviti survey of finance leaders found 44 percent of... Read Story
May 25, 2018, 07:15 AM


With the vast majority of responsibility for implementing the upcoming new lease accounting standards falling on U.S. CPA firms, help is on the way with LeaseCrunch, lease accounting software developed by former CPA firm auditors to help CPA firms... Read Story
May 22, 2018, 07:10 AM


Accruent, a provider of physical resource management solutions, has expanded the verification process of its lease accounting and administration solution with respect to the new FASB and IASB lease accounting standards with software testing conducted... Read Story
May 10, 2018, 07:05 AM


LeaseAccelerator announced RSM US LLP has joined its global partner program. RSM is the nation's largest provider of audit, tax and consulting services focused on the middle market with more than 9,000 professionals in 90 cities across the United... Read Story
May 10, 2018, 07:00 AM


LeaseQuery, an industry leader in lease accounting software, announced Amanda Payne has joined the team as their newest lease accounting manager. She joins the team on the heels of a record-breaking year of growth for LeaseQuery. Payne will serve as... Read Story
March 16, 2018, 07:00 AM


LeaseAccelerator announced the results of its second annual Readiness Survey which gauges the readiness of large companies to support the new lease accounting standards. The LeaseAccelerator Readiness Survey involved over 300 respondents in the... Read Story
February 27, 2018, 07:15 AM


Data suggests organizations are moving quickly with the assistance of Big 4 experience and sophisticated technology solutions, but many are not where they need to be. With the January 1, 2019, deadline looming for compliance with the Financial... Read Story
February 21, 2018, 07:21 AM


LeaseQuery announced that Rachel Bowles has joined the team as their newest business analyst. The hire comes on the heels of a record-breaking year of growth for LeaseQuery. Bowles will liaise between business stakeholders and LeaseQuery to document... Read Story
February 21, 2018, 07:12 AM


LeaseAccelerator announced that John Keenan has joined the company as its new chief revenue officer. Keenan brings 25 years of experience leading sales and marketing organizations at high-growth companies that disrupted or created new categories of... Read Story
February 06, 2018, 07:05 AM


The Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) intended to reduce costs and ease implementation of the Leases standard for financial statement preparers.  Stakeholders are encouraged to review and... Read Story
January 08, 2018, 07:13 AM


LeaseAccelerator announced it will host its 2017 Lease Accounting Summit in New York City on November 15th. Immediately following the Current Financial Reporting Issues (CFRI) conference, held by the Financial Executive Insitute (FEI), summit... Read Story
November 02, 2017, 06:36 AM


Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd, has entered into a preferred vendor agreement with Visual Lease, a cloud-based technology that helps companies manage their lease portfolio in real time. Grant Thornton’s... Read Story
October 18, 2017, 07:10 AM


LeaseAccelerator announced that it was recognized as one of 2017’s top 10 Financial Reporting Solution Providers in the latest edition of CFO Tech Outlook. The annual list of companies has been selected by the panel of experts and members of CFO Tech... Read Story
October 13, 2017, 07:00 AM


LeaseAccelerator announced fully-automated, “push-button” support for transition accounting in the latest release of its software-as-a-service application. As the initial 2019 deadline for the new lease accounting standards approaches, companies are... Read Story
October 04, 2017, 07:00 AM


With the January 1, 2018 deadline for complying with the Financial Accounting Standards Board (FASB) new revenue recognition standard rapidly approaching, 60 percent of public companies said they are facing challenges in implementing the standard by... Read Story
October 02, 2017, 07:12 AM


Accruent announced that it has acquired Plano, Texas-based Lucernex, Inc.Lucernex is a leading, global provider of cloud-based, Integrated Workplace Management Systems (IWMS), including advanced solutions for organizations in any industry seeking... Read Story
August 10, 2017, 07:06 AM


A year and a half after the issuance of the Financial Accounting Standards Board’s (FASB) and International Accounting Standards Board’s (IASB) respective new lease accounting standards and a year and a half before compliance begins for U.S.-based... Read Story
August 07, 2017, 08:14 AM


The Governmental Accounting Standards Board (GASB) issued guidance that establishes a single approach to accounting for and reporting leases by state and local governments. This single approach is based on the principle that leases are financings of... Read Story
June 29, 2017, 07:27 AM


According to an EY lease accounting survey, companies anticipate challenges to operationalize the required changes to comply with the new lease accounting standard, which will bring onto the balance sheet operating leases for assets such as real... Read Story
June 28, 2017, 07:20 AM


LeaseAccelerator announced the results of a Progress Report study gauging the readiness of large companies to support the new lease accounting standards (ASC 842) one year after their initial publication. The research study, conducted earlier this... Read Story
February 28, 2017, 07:10 AM


BDO USA, LLP, one of the nation’s leading accounting and consulting organizations, and CoStar Real Estate Manager, a division of CoStar Group, Inc. and a leading lease management software provider, announced a strategic alliance under which BDO and... Read Story
November 02, 2016, 07:07 AM


In a recent survey by KPMG LLP, the audit, tax and advisory firm, nearly half of all companies surveyed have not begun to assess the impacts of the new FASB lease accounting standard, which has an effective date of January 1, 2019.  “Although the... Read Story
June 15, 2016, 07:07 AM


Just 9.8 percent of more than 5,400 financial and accounting professionals say their companies are prepared to comply with the new Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) lease accounting... Read Story
June 07, 2016, 07:07 AM


LeaseAccelerator announced the results of a market readiness survey for the new lease accounting standards. The first research study to be completed since the Financial Accounting Standards Board (FASB) announced ASU 2016-02 (ASC 842), surveyed... Read Story
May 13, 2016, 07:06 AM


LeaseAccelerator  announced a new release featuring updated functionality to support the new lease accounting standards introduced by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB). With... Read Story
April 19, 2016, 07:00 AM


CHP Consulting has published the final version of its authoritative whitepaper on changes in international lease accounting standards.The fully revised Lease Accounting Reform: The Systems Impact for Asset Finance Lessors reflects the final standards... Read Story
March 25, 2016, 07:15 AM


ECS Financial Services is proud to announce that Shareholder Nancy Geary, CPA, CLFP, has been featured in the March/April issue of the National Equipment Financing Association's (NEFA) bi-monthly publication, Newsline Magazine.  Ms. Geary's featured... Read Story
March 18, 2016, 06:50 AM


The Equipment Leasing and Finance Association (ELFA) has released a host of new user-friendly tools to help lessors and lessees prepare for new lease accounting rules issued recently by the Financial Accounting Standards Board. The association is... Read Story
March 02, 2016, 07:10 AM


The Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) intended to improve financial reporting about leasing transactions. The ASU affects all companies and other organizations that lease assets such as real... Read Story
February 26, 2016, 07:18 AM


Ralph Petta, President and CEO of the Equipment Leasing and Finance Association, released the following statement regarding the new lease accounting standard issued by the Financial Accounting Standards Board (FASB):“We welcome the release of the new... Read Story
February 26, 2016, 07:17 AM


The Equipment Leasing and Finance Association has announced two new opportunities for lessors to learn about forthcoming changes to the lease accounting standard: a one-hour web seminar on Feb. 9 and a one-day workshop on March 2. Both events are... Read Story
January 21, 2016, 07:04 AM


The International Accounting Standards Board® (the Board) issued a new accounting Standard, called IFRS 16 Leases. It replaces accounting requirements introduced more than 30 years ago that are no longer considered fit for purpose and is a major... Read Story
January 15, 2016, 07:30 AM


The Financial Accounting Standards Board (FASB) voted to proceed with a new accounting standard that would require companies and other organizations to include lease obligations on their balance sheets. The final Accounting Standards Update (ASU) is... Read Story
November 12, 2015, 07:30 AM


The Equipment Leasing and Finance Association has released a new educational tool that addresses impending changes to the lease accounting standard. The white paper, “Changes in Lease Accounting: The Benefits of Equipment Lease Financing Remain,” is... Read Story
November 12, 2015, 07:20 AM


The International Accounting Standards Board (IASB) is in the process of finalizing a new International Financial Reporting Standard (IFRS) that will require companies to bring leases onto the balance sheet.  On March 16, 2015, it published a... Read Story
March 17, 2015, 07:03 AM


CHP Consulting has produced a newly updated whitepaper on changing standards in lease accounting, to address the latest output from the IASB and FASB. The fully revised Lease Accounting Reform: The Systems Impact for Asset Finance Lessors reflects... Read Story
October 21, 2014, 07:06 AM


According to the Wall Street Journal, U.S. and international accounting rule makers are getting closer to a final version of thier proposed lease accounting overhaul, but the two boards are unlikely to use the same lease expensing model in their... Read Story
August 11, 2014, 06:50 AM


Full U.S. adoption of International Financial Reporting Standards (IFRS) appears unlikely to occur in the intermediate-term as the major accounting standard setters continue to move away from full convergence of their standards, according to a Fitch... Read Story
July 09, 2014, 06:37 AM


According to a report in the Journal of Accountancy, FASB and the IASB are still struggling to find common ground in their efforts to create a converged standard for financial reporting on leases.During a Tuesday meeting at FASB’s headquarters in... Read Story
March 20, 2014, 07:00 AM


Reuters reports that the draft rule forcing companies to put leases on their balance sheets is set to be eased after fierce opposition from companies worried that investors would take fright and that loans linked to leverage would be put at risk. The... Read Story
January 28, 2014, 06:57 AM


The Equipment Leasing and Finance Association (ELFA) has posted an article by Bill Bosco, Principal of Leasing 101, and member of the ELFA Financial Accounting Committee, on the lease accounting project to the ELFA website.  The article notes that... Read Story
October 04, 2013, 07:05 AM


Additional complexities for accountants who deal with a large number of operating leases will arise from the IASB’s proposals says the Global Forum for Corporate Reporting. Proposals to change the way in which leased assets are accounted for, put... Read Story
September 16, 2013, 06:55 AM


The Equipment Leasing and Finance Association (ELFA) raised serious concerns that a revised proposal to change lease accounting rules would increase the cost and complexity of lease accounting without significantly improving the quality and relevance... Read Story
September 11, 2013, 07:00 AM


Lessees and Lessors are Encouraged to Submit Comment Letters by the September 13th Deadline  CG Commercial Finance (CGCF) released an animated video outlining the issues and implications related to lease accounting changes proposed by FASB and IASB... Read Story
September 06, 2013, 06:50 AM


Calls for Boards to Reevaluate the Leases ProjectWilliam G. Sutton, CAE, President and CEO of the Equipment Leasing and Finance Association, released the following statement highlighting recent developments that add to mounting evidence that the... Read Story
September 04, 2013, 07:03 AM


Today  ELFA President and CEO William G. Sutton, CAE, sent the following message to all ELFA members: We need your help! You and your customers have only two weeks left to comment on the lease accounting Exposure Draft. ELFA is urging all lessees... Read Story
August 30, 2013, 07:05 AM


CHP Consulting has published a new version of its whitepaper on lease accounting to reflect the latest developments in changing standards. Lease Accounting Reform: The Systems Impact for Asset Finance Lessors has been comprehensively updated to... Read Story
August 01, 2013, 07:00 AM


Fitch Ratings expects lessors to face significant challenges in applying the new rules, but the impact on economic fundamentals in the leasing industry will be limited.Off-balance sheet treatment, which would end for most lessees under the terms of... Read Story
July 18, 2013, 06:59 AM


On July 9, ELFA's lease accounting team—members Rod Hurd, John Bober and Bill Bosco and Chief Operating Officer Ralph Petta—met at the offices of the Financial Accounting Standards Board in Norwalk, Conn., to discuss the lease accounting Exposure... Read Story
July 15, 2013, 06:58 AM


The FASB and the IASB will host several joint public roundtable meetings on their revised joint proposals on leases that were published in May 2013: the revised proposed FASB Accounting Standards Update, Leases (Topic 842), and the IASB Exposure... Read Story
July 03, 2013, 07:02 AM


Thomson Reuters has released an overview of the Financial Accounting Standards Board's (FASB) proposed accounting standards for leases.  The report covers topics such as:  Scope of the new guidance on leases  Definition and classification of a... Read Story
June 11, 2013, 07:03 AM


The Equipment Leasing and Finance Association will hold a web seminar, “Changes in Lease Accounting: Analysis and Implications for Your Business,” on Thursday, June 27, 12:30pm-2pm ET. The web seminar will analyze the lease accounting Exposure Draft... Read Story
June 05, 2013, 07:03 AM


According to an article posted on the Journal of Accountancy, IASB Chairman Hans Hoogervorst on Thursday acknowledged the converged lease accounting proposal is bound to be unpopular with many companies.The report states that in a telephone... Read Story
May 17, 2013, 07:14 AM


William G. Sutton, CAE, President and CEO of the Equipment Leasing and Finance Association, today released the following statement regarding the exposure draft published by the Financial Accounting Standards Board (FASB) and the International... Read Story
May 16, 2013, 10:10 AM


The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) today published for public comment a revised Exposure Draft outlining proposed changes to the accounting for leases. The proposal aims to improve... Read Story
May 16, 2013, 07:24 AM


LeaseAccelerator announced that it has published a new lease accounting whitepaper for lessees that explains the new 2013 FASB Exposure Draft, which the FASB is expected to release later this week.  The official title is "How to Prepare Now for the... Read Story
May 14, 2013, 07:00 AM


The Journal of Accountancy reported that FASB decided Wednesday to move forward with a re-proposal on financial reporting for leases that will be converged with that of the International Accounting Standards Board (IASB).According ot the report, the... Read Story
April 12, 2013, 07:19 AM


Reuters reported that corporate lobbying may derail attempts by regulators to make companies account more clearly for leased equipment, the head of a global accounting rules body said on Tuesday.According to the report, currently the costs of such... Read Story
November 08, 2012, 07:04 AM


The IASB and the FASB discussed questions that have been raised about the Boards’ tentative decisions regarding sale and leaseback transactions; issues on how a lessee would account for leases under the single lease expense (SLE) approach; and issues... Read Story
September 24, 2012, 06:33 AM


CFO.com reports the new lease accounting proposal agreed upon by the FASB and IASB is still getting pummeled by finance executives. Ralph Petta, chief operating officer at the Equipment Leasing and Finance Association (ELFA) notes that the boards’... Read Story
September 20, 2012, 07:14 AM


The Equipment Leasing and Finance Association (ELFA) has announced it may withdraw its support for the proposal to develop a new lease accounting standard, calling the current proposal “fraught with difficulties.” In a letter to the Financial... Read Story
September 05, 2012, 10:00 AM


CFO.com reported that companies that lease equipment could see their profits shrink in the early years of a contract under the new proposed Financial Accounting Standards Board’s (FASB) and International Accounting Standards Board’s (IASB) June 13th... Read Story
July 18, 2012, 07:29 AM


Leaseurope, the European Federation representing the leasing and automotive rental industry, is pleased to see that the Boards have officially communicated on the next steps in their Leases project. The timeframe should provide the leasing industry... Read Story
June 15, 2012, 08:00 AM


The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) today agreed on an approach for accounting for lease expenses as part of a project to revise lease accounting in International Financial Reporting... Read Story
June 14, 2012, 07:50 AM


The Wall Street Journal reported U.S. and international accounting rule makers are readying to vote on a method for how new lease accounting rules will impact corporate earnings in June, resulting in a new draft of the rules being potentially... Read Story
May 25, 2012, 08:00 AM


In the latest developments on the Financial Accounting Standards Board (FASB)/International Accounting Standards Board (IASB) Leases Project, the Boards have conducted outreach meetings with the main objective of changing the lessee cost pattern. At... Read Story
May 03, 2012, 07:30 AM


The latest FASB/IASB Lease Accounting Project meetings on February 28 and 29 had as the main objective changing the lessee cost pattern to straight line similar to current GAAP. The reason for the continued work on the lessee cost pattern is that... Read Story
April 27, 2012, 05:30 AM


Odessa Technologies, Inc. and Ivory Consulting Corporation, have announced a strategic alliance to comprehensively integrate Ivory’s SuperTRUMP pricing solution with the LeaseWave lease and loan management system. “Odessa has established itself as a... Read Story
April 17, 2012, 08:00 AM


CHP Consulting has published the second in a series of thought leadership pieces on the IASB and FASB’s overhaul of lease accounting.Lease Accounting Reform: The Systems Impact for Asset Finance Lessors summarizes the key features of the proposals so... Read Story
March 26, 2012, 06:30 AM


In a new paper on lease accounting, “Are All Leases Created Equal?”, Grant Thornton LLP discusses the FASB’s and IASB’s current thinking on lease accounting. The Boards have tentatively decided on a single model for lessors (the receivable and... Read Story
March 09, 2012, 06:30 AM


In the February 28, 2012 FASB/IASB Joint Board Meeting, the FASB and the IASB discussed lessee accounting and, in particular, different methods of amortizing the right-of-use asset. They also discussed any consequences that a change to the lessee... Read Story
March 02, 2012, 08:30 AM