Cre Technology (436)
Lessor vs. Lessee Explained and Full Example of Lessor Accounting for a Finance Lease under GASB 87
This post originally appeared on tBL Marketplace Partner LeaseQuery's blog Your Lease Queries, Answered and is republished with permission. Find out how to syndicate your content with theBrokerList. Lessor vs. lessee Lessor accounting for a finance lease under GASB 87 Example Lessor vs. lessee In accounting, the terms “lessor” and “lessee” are used to identify […]
Lease Accounting for Small Businesses
This post originally appeared on tBL Marketplace Partner LeaseQuery's blog Your Lease Queries, Answered and is republished with permission. Find out how to syndicate your content with theBrokerList. Complying with the new standards is a headache – especially in Excel Investing in technology can prevent non-compliance Listen to your peers Evaluate the software’s features Analyze […]
ASC 840 vs ASC 842: Differences between the Old and New Lease Accounting Standard
This post originally appeared on tBL Marketplace Partner LeaseQuery's blog Your Lease Queries, Answered and is republished with permission. Find out how to syndicate your content with theBrokerList. ASC 840 summary ASC 840, Leases, is the former lease accounting standard for public and private companies that follow U.S. GAAP (US Generally Accepted Accounting Principles). Under […]
GASB 62 to GASB 87 – Eight Tips to Ease the Transition
This post originally appeared on tBL Marketplace Partner LeaseQuery's blog Your Lease Queries, Answered and is republished with permission. Find out how to syndicate your content with theBrokerList. This article was written in collaboration with LeaseQuery’s partner in easing the burden of lease accounting, Postlethwaite & Netterville (P&N). While the lease accounting delay for private […]
Lease Termination Accounting under FASB, IFRS, and GASB: Options to Terminate, Costs, and More
This post originally appeared on tBL Marketplace Partner LeaseQuery's blog Your Lease Queries, Answered and is republished with permission. Find out how to syndicate your content with theBrokerList. To terminate a lease is to cancel the agreement before the end of the specified lease term. Many lease agreements may include an option for either lessees […]
Companies See Significant Balance Sheet Impacts After Lease Accounting Transition – New LeaseQuery Report
This post originally appeared on tBL Marketplace Partner LeaseQuery's blog Your Lease Queries, Answered and is republished with permission. Find out how to syndicate your content with theBrokerList. As lease liabilities continue to skyrocket, companies would be wise to start developing a plan for compliance immediately ATLANTA – February 18, 2020 – Implementation of the […]
Deferring Rent: 6 Tips for Negotiating Rent Deferrals with Your Landlord
This post originally appeared on tBL Marketplace Partner LeaseQuery's blog Your Lease Queries, Answered and is republished with permission. Find out how to syndicate your content with theBrokerList. When your business is in a financial bind, proactively negotiating rent concessions is a smart strategy for getting relief while you seek additional funding or ride out […]
CEO & Founder, George Azih Leadership Profile
This post originally appeared on tBL Marketplace Partner LeaseQuery's blog Your Lease Queries, Answered and is republished with permission. Find out how to syndicate your content with theBrokerList. The path to the Aha! moment If it weren’t for the financial crisis in 2008, LeaseQuery may not exist. The crisis led LeaseQuery’s CEO and Founder, George […]
How the New Lease Accounting Changes Have Affected Balance Sheet Liabilities
This post originally appeared on tBL Marketplace Partner LeaseQuery's blog Your Lease Queries, Answered and is republished with permission. Find out how to syndicate your content with theBrokerList. When the FASB’s changes to lease accounting standards were released in 2016, it was hailed as one of the biggest changes to accounting in decades. After the […]
ASC 842 Disclosure Requirements: Example and Explanation
This post originally appeared on tBL Marketplace Partner LeaseQuery's blog Your Lease Queries, Answered and is republished with permission. Find out how to syndicate your content with theBrokerList. ASC 842, Leases, is a comprehensive change from previous guidance that requires both finance and operating leases to be recognized on the balance sheet, where only finance […]
COVID-19 Accounting for Lease Concessions: Full Explanation and Example
This post originally appeared on tBL Marketplace Partner LeaseQuery's blog Your Lease Queries, Answered and is republished with permission. Find out how to syndicate your content with theBrokerList. COVID-19 Background The current coronavirus pandemic is impacting countries all over the world. International and domestic economies have all been hit hard by the virus. Businesses across […]
Beyond Compliance: The Hidden Benefits of Accounting Software for Leases
This post originally appeared on tBL Marketplace Partner LeaseQuery's blog Your Lease Queries, Answered and is republished with permission. Find out how to syndicate your content with theBrokerList. Most accounting software is able to provide benefits that go beyond compliance. In lease accounting, this is especially true. Many organizations who already transitioned to the new […]
Tool | GASB RFP for Lease Accounting Software
This post originally appeared on tBL Marketplace Partner LeaseQuery's blog Your Lease Queries, Answered and is republished with permission. Find out how to syndicate your content with theBrokerList. Download our GASB Lease Accounting Software RFP Template to help you start evaluating lease accounting software vendors in order to comply with the new lease accounting standards. Lease […]
Asset Retirement Obligation (ARO) Accounting Example under ASC 410 and ASC 842
This post originally appeared on tBL Marketplace Partner LeaseQuery's blog Your Lease Queries, Answered and is republished with permission. Find out how to syndicate your content with theBrokerList. Have you ever entered into an operating lease for a building, constructed leasehold improvements, and determined based on the provisions of the lease that you are legally […]
LeaseQuery Unveils LeaseGuru, the Industry’s Most Advanced Lease Accounting Solution for Small Businesses
This post originally appeared on tBL Marketplace Partner LeaseQuery's blog Your Lease Queries, Answered and is republished with permission. Find out how to syndicate your content with theBrokerList. LeaseGuru, powered by LeaseQuery, facilitates mandatory compliance for businesses with a lease portfolio of under ten ATLANTA, January 28, 2020 – LeaseQuery, a leading provider of comprehensive […]
Identifying Embedded Leases under ASC 842 and GASB 87
This post originally appeared on tBL Marketplace Partner LeaseQuery's blog Your Lease Queries, Answered and is republished with permission. Find out how to syndicate your content with theBrokerList. While the effective date of the new lease standards for domestic public companies, international companies, and governmental organizations has already passed, private companies are still in the […]
Tool | Free Lease Accounting Software
This post originally appeared on tBL Marketplace Partner LeaseQuery's blog Your Lease Queries, Answered and is republished with permission. Find out how to syndicate your content with theBrokerList. Complying with FASB & IASB standards is a headache in Excel. LeaseGuru makes it simple and secure to account for up to 9 leases under ASC 842 […]
Finance Lease vs Operating Lease: Classification and More Differences under ASC 842, IFRS 16, and GASB 87
This post originally appeared on tBL Marketplace Partner LeaseQuery's blog Your Lease Queries, Answered and is republished with permission. Find out how to syndicate your content with theBrokerList. One of the changes that was implemented with the new lease accounting standards is the renaming of capital leases to finance leases. While this is mostly a […]
When Leading Today’s Workforce, One Size Does Not Fit All
This post originally appeared on tBL Marketplace Partner LeaseQuery's blog Your Lease Queries, Answered and is republished with permission. Find out how to syndicate your content with theBrokerList. In recent weeks, the viral quip “OK, Boomer” has exploded from social media memes into a broader national dialogue about how generational differences impact our points of […]
Tool | RFP for Lease Accounting Software
This post originally appeared on tBL Marketplace Partner LeaseQuery's blog Your Lease Queries, Answered and is republished with permission. Find out how to syndicate your content with theBrokerList. Download our Lease Accounting Software RFP Template to help you start evaluating lease accounting software vendors in order to comply with the new lease accounting standards Lease […]
Lease Abandonment Accounting: Common Questions and a Full Example
This post originally appeared on tBL Marketplace Partner LeaseQuery's blog Your Lease Queries, Answered and is republished with permission. Find out how to syndicate your content with theBrokerList. Lease abandonment from the lessee’s perspective means precisely that the lessee is still paying for an asset they are no longer using. While the asset has in […]
Improving Capital Budgeting Decisions Using Finance and Accounting Tools
This post originally appeared on tBL Marketplace Partner LeaseQuery's blog Your Lease Queries, Answered and is republished with permission. Find out how to syndicate your content with theBrokerList. Capital budgeting in corporate finance Capital budgeting is the process used in corporate finance to make decisions about long-term investments, such as real estate, equipment, or software. […]
5 Lease Accounting Transition Challenges That Aren’t Going Away
This post originally appeared on tBL Marketplace Partner LeaseQuery's blog Your Lease Queries, Answered and is republished with permission. Find out how to syndicate your content with theBrokerList. We recently surveyed 200 accountants in the lease accounting transition process, and while respondents came from different industries and sizes of companies, one takeaway is clear: lease […]
Managing Remote Employees in Accounting Successfully
This post originally appeared on tBL Marketplace Partner LeaseQuery's blog Your Lease Queries, Answered and is republished with permission. Find out how to syndicate your content with theBrokerList. This article was written in collaboration with LeaseQuery’s partner in easing the burden of lease accounting and closing the books efficiently, FloQast. Whether it’s ensuring compliance, completing […]
What is Lease Accounting? A Lot More Than Net Present Value
This post originally appeared on tBL Marketplace Partner LeaseQuery's blog Your Lease Queries, Answered and is republished with permission. Find out how to syndicate your content with theBrokerList. Lease accounting is the method by which organizations account for their leasing contracts – whether lessors or lessees – on their balance sheets. The reporting standards for […]
LeaseQuery Forms Partnership with AXIA Partners to Extend Its Lease Accounting Reach
This post originally appeared on tBL Marketplace Partner LeaseQuery's blog Your Lease Queries, Answered and is republished with permission. Find out how to syndicate your content with theBrokerList. LeaseQuery’s leading lease accounting technology and AXIA’s strategy and implementation expertise offers businesses a complete solution to ease the lease accounting transition process ATLANTA – March 24, […]
Off-Balance-Sheet Financing Is Undergoing Radical Changes with the New Lease Accounting Standards
This post originally appeared on tBL Marketplace Partner LeaseQuery's blog Your Lease Queries, Answered and is republished with permission. Find out how to syndicate your content with theBrokerList. Off-balance-sheet financing (OBSF) Off-balance-sheet financing refers to types of transactions and methods of accounting for transactions in which no liabilities are recorded to an organization’s financial statements. […]