The Equipment Leasing and Finance Association (ELFA) has named William Bosco, Jr. to the 2023 Class of the Equipment Finance Hall of Fame. ELFA Board Chair Robert Neagle made the announcement at the General Session of the 62nd ELFA Annual Convention...
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October 24, 2023, 07:20 AM
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EZLease announced its free, full-function offering for private and government organizations managing small lease portfolios. Resource-constrained organizations now have a free way to experience the fastest path to long-term lease accounting...
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July 15, 2022, 07:05 AM
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The average number of leases companies hold has returned to or exceeded pre-pandemic levels, according to the latest 2022 Lease Benchmark Report from accounting technology provider LeaseQuery. While the resurgence signals impressive resilience...
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June 08, 2022, 07:15 AM
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LeaseQuery, a provider of software built to simplify the complexities of accounting, announced a reseller partnership with Cherry Bekaert LLP, an accounting and advisory firm offering specialized solutions across various industries. LeaseQuery has...
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May 18, 2022, 07:10 AM
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LeaseQuery, a provider of software built to simplify the complexities of accounting, announced its acquisition of Crowe Lease Accounting Optimizer (CLAO), a provider of lease accounting for NetSuite users. Crowe LLP, a public accounting, consulting...
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May 04, 2022, 07:03 AM
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LeaseAccelerator announced the results of the 2022 Global Lease Accounting Survey conducted with its partner, Ernst & Young LLP (EY). With the ASC 842 and GASB 87 effective date delays over, organizations worldwide must now create, implement and...
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April 01, 2022, 07:05 AM
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LeaseQuery announced it surpassed 2,000 customers in 2021, seeing 50 percent customer growth amid other key growth areas in last year. LeaseQuery’s momentum throughout 2021 is attributed to expanded product offerings to meet evolving customer and...
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January 28, 2022, 07:00 AM
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With the final ASC 842 lease accounting compliance deadline finally in sight, private companies are quickly shifting focus after 73 percent deprioritized their lease accounting transition in 2020, according to a new report, “To the ASC 842 Finish...
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December 15, 2021, 07:04 AM
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LeaseQuery, a provider of software built to simplify the complexities of accounting, announced two new installments of its LEASE (Lease Essentials: Advice Shared by the Experts) Summit, the FASB Series and GASB Series. During these virtual events...
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December 09, 2021, 07:07 AM
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The Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) to improve the decision usefulness of information provided to investors about certain loan refinancings, restructurings and writeoffs. Stakeholders...
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November 24, 2021, 07:20 AM
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Visual Lease announced it ranked No. 264 on the Deloitte Technology Fast 500, a list of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech and energy tech companies in North America. Visual Lease’s revenue grew by...
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November 19, 2021, 07:05 AM
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LeaseQuery announced it ranked No. 93 on the Deloitte Technology Fast 500, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech and energy tech companies in North America, now in its 27th year. LeaseQuery...
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November 18, 2021, 07:03 AM
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EZLease, a provider of lease accounting software, announced the completion of its SSAE 18/ Service Organization Control 1 (SOC) Type 2 Audit. With this successful audit, EZLease has demonstrated it has the proper internal controls in place regarding...
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November 12, 2021, 06:58 AM
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LeaseAccelerator announced a new update to its Lease Lifecycle Automation software – the result of a significant investment to expand process controls and simplify and accelerate the accounting close. The enhancements were designed with the guidance...
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September 16, 2021, 07:03 AM
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The Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) intended to improve an area of the leases guidance related to a lessor’s accounting for certain leases with variable lease payments.During the FASB’s...
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August 20, 2021, 06:00 AM
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Visual Lease introduced ASC 842 Proven Path, a full end-to-end lease accounting solution for private companies with fewer than 100 leases. Similar to the company’s GASB 87 Complete solution, ASC 842 Proven Path combines Visual Lease’s software...
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August 13, 2021, 07:00 AM
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With a few months to go before private organizations must include most leases on their balance sheets for fiscal years starting after Dec. 15, 2021, one-fifth (19.8 percent) of privately held organization executives still feel unprepared to comply...
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May 25, 2021, 07:09 AM
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Companies are continuing to feel the brunt of the new lease accounting standards this year, with the average company seeing lease liability increases of 419 percent, according to the latest 2021 Lease Liabilities Index Report from accounting...
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May 19, 2021, 07:05 AM
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LeaseAccelerator announced results of the 2021 Global Lease Accounting Survey conducted with Ernst & Young LLP (EY). While lease accounting standards for public companies have been around since 2019, the results show that there is still a significant...
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March 19, 2021, 07:18 AM
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LeaseCrunch said it sees four key trends in 2021 in lease accounting implementation, as non-public companies are the next to get into compliance.“2020 was a year no one expected,” said LeaseCrunch CEO Ane Ohm. “COVID-19 changed the way businesses...
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February 16, 2021, 07:05 AM
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LeaseQuery, a provider of purpose-built lease accounting software, announced it is integrating its solution with Microsoft Dynamics 365 Finance and Business Central, an industry leader in enterprise resource planning (ERP) and customer relationship...
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January 28, 2021, 07:17 AM
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Visual Lease announced its 2020 business results, citing a 22 percent increase in revenue year-over-year, making it the third straight year that Visual Lease experienced double-digit growth. Along with an increase in revenue, Visual Lease reported a...
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January 21, 2021, 07:05 AM
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Visual Lease, a provider of lease accounting and management software, announced the launch of its Integrations Hub, offering flexible, open platform access to third-party applications. The company unveiled its comprehensive product capabilities...
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December 10, 2020, 07:10 AM
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The Equipment Leasing and Finance Association (ELFA) on Dec. 3, submitted a comment letter to the Financial Accounting Standards Board on its new lease accounting proposal. The proposal is intended to improve three areas of its lease accounting...
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December 07, 2020, 07:15 AM
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LeaseQuery, a provider of purpose-built lease accounting software, announced its partnership with Sage Fixed Assets, a provider of asset management software. This alliance will allow LeaseQuery and SFA to combine lease management and capital...
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December 02, 2020, 07:18 AM
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Visual Lease, a provider of lease accounting and management software, announced the appointment of Martin Murtland as Vice President, Product Management. Murtland will drive the expansion of Visual Lease’s product strategy and oversee the delivery of...
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November 12, 2020, 07:15 AM
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LeaseAccelerator announced the introduction of the LeaseAccelerator Guarantee. The LeaseAccelerator Guarantee ensures customers can achieve rapid lease accounting compliance through automation by guaranteeing that customers can see success in just...
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October 22, 2020, 06:55 AM
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Visual Lease announced its newly available Lease Accounting Milestone Planner (LAMP) tool to help companies prepare for important tasks leading up to ASC 842 and GASB 87 compliance deadlines. The Lease Accounting Milestone Planner provides a clear...
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September 28, 2020, 07:06 AM
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The Financial Accounting Standards Board (FASB) staff issued a question-and-answer document to address stakeholder questions on the application of the lease accounting guidance for lease concessions related to the effects of the COVID-19...
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April 13, 2020, 07:20 AM
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Financial Accounting Standards Board held a public meeting April 8 to approve measures intended to provide stakeholders with accounting relief and clarity during the COVID-19 crisis. FASB Chairman Russell G. Golden issued the following statement:
In...
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April 09, 2020, 07:21 AM
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Visual Lease, a provider of lease accounting and management solutions, announced the appointment of Erinn Tarpey as Senior Vice President, Marketing. Tarpey will oversee Visual Lease’s go-to-market strategy, operational activities and is responsible...
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April 02, 2020, 07:05 AM
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The Financial Accounting Standards Board (FASB) announced the date of its public roundtable discussion on the implementation of its accounting standard on leases. The discussion will focus on broad technical issues, such as embedded leases and...
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March 06, 2020, 07:15 AM
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Implementation of the new lease accounting standard has led to average balance sheet lease liability increases of 1,475 percent, according to new research from lease accounting technology provider, LeaseQuery. In an analysis of more than 400 balance...
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February 19, 2020, 07:21 AM
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A new textbook on lease accounting by industry authority Shawn Halladay, Managing Director of the Professional Development Practice, The Alta Group, is now available.“Accounting for Leases: Embracing the New Paradigm” provides valuable guidance to...
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November 20, 2019, 07:06 AM
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LeaseQuery announced Goldman Sachs’ Merchant Banking Division has invested $40 million in the company through Series A funding.The Atlanta-based LeaseQuery is on track for another record year of growth in 2019, after achieving 708 percent...
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November 11, 2019, 07:10 AM
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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...
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October 14, 2019, 07:03 AM
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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...
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September 17, 2019, 07:17 AM
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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...
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September 16, 2019, 07:05 AM
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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...
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June 26, 2019, 06:30 AM
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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...
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June 14, 2019, 07:30 AM
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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...
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May 15, 2019, 07:30 AM
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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...
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April 02, 2019, 07:20 AM
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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...
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February 27, 2019, 07:00 AM
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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...
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February 11, 2019, 07:07 AM
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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...
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February 08, 2019, 07:15 AM
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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...
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January 21, 2019, 07:10 AM
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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...
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January 11, 2019, 07:25 AM
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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...
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January 04, 2019, 07:00 AM
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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...
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November 05, 2018, 07:10 AM
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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...
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October 12, 2018, 07:07 AM
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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...
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October 09, 2018, 07:05 AM
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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...
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August 09, 2018, 07:10 AM
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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...
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August 02, 2018, 06:55 AM
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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...
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July 31, 2018, 07:15 AM
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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...
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July 27, 2018, 07:15 AM
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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...
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July 17, 2018, 07:07 AM
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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...
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June 27, 2018, 07:20 AM
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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...
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May 25, 2018, 07:15 AM
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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...
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May 22, 2018, 07:10 AM
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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...
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May 10, 2018, 07:05 AM
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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...
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May 10, 2018, 07:00 AM
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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...
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March 16, 2018, 07:00 AM
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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...
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February 27, 2018, 07:15 AM
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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...
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February 21, 2018, 07:21 AM
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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...
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February 21, 2018, 07:12 AM
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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...
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February 06, 2018, 07:05 AM
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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...
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January 08, 2018, 07:13 AM
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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...
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November 02, 2017, 06:36 AM
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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...
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October 18, 2017, 07:10 AM
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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...
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October 13, 2017, 07:00 AM
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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...
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October 04, 2017, 07:00 AM
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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...
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October 02, 2017, 07:12 AM
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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...
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August 10, 2017, 07:06 AM
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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...
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August 07, 2017, 08:14 AM
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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...
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June 29, 2017, 07:27 AM
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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...
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June 28, 2017, 07:20 AM
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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...
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February 28, 2017, 07:10 AM
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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...
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November 02, 2016, 07:07 AM
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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...
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June 15, 2016, 07:07 AM
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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...
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June 07, 2016, 07:07 AM
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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...
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May 13, 2016, 07:06 AM
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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...
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April 19, 2016, 07:00 AM
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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...
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March 25, 2016, 07:15 AM
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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...
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March 18, 2016, 06:50 AM
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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...
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March 02, 2016, 07:10 AM
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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...
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February 26, 2016, 07:18 AM
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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...
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February 26, 2016, 07:17 AM
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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...
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January 21, 2016, 07:04 AM
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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...
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January 15, 2016, 07:30 AM
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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...
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November 12, 2015, 07:30 AM
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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...
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November 12, 2015, 07:20 AM
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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...
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March 17, 2015, 07:03 AM
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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...
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October 21, 2014, 07:06 AM
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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...
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August 11, 2014, 06:50 AM
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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...
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July 09, 2014, 06:37 AM
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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...
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March 20, 2014, 07:00 AM
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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...
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January 28, 2014, 06:57 AM
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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...
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October 04, 2013, 07:05 AM
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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...
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September 16, 2013, 06:55 AM
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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...
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September 11, 2013, 07:00 AM
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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...
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September 06, 2013, 06:50 AM
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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...
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September 04, 2013, 07:03 AM
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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...
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August 30, 2013, 07:05 AM
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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...
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August 01, 2013, 07:00 AM
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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...
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July 18, 2013, 06:59 AM
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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...
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July 15, 2013, 06:58 AM
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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...
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July 03, 2013, 07:02 AM
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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...
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June 11, 2013, 07:03 AM
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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...
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June 05, 2013, 07:03 AM
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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...
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May 17, 2013, 07:14 AM
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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...
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May 16, 2013, 10:10 AM
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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...
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May 16, 2013, 07:24 AM
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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...
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May 14, 2013, 07:00 AM
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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...
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April 12, 2013, 07:19 AM
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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...
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November 08, 2012, 07:04 AM
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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...
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September 24, 2012, 06:33 AM
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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’...
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September 20, 2012, 07:14 AM
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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...
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September 05, 2012, 10:00 AM
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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...
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July 18, 2012, 07:29 AM
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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...
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June 15, 2012, 08:00 AM
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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...
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June 14, 2012, 07:50 AM
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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...
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May 25, 2012, 08:00 AM
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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...
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May 03, 2012, 07:30 AM
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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...
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April 27, 2012, 05:30 AM
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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...
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April 17, 2012, 08:00 AM
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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...
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March 26, 2012, 06:30 AM
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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...
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March 09, 2012, 06:30 AM
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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...
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March 02, 2012, 08:30 AM
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