Lease Accounting

Ivory Consulting Customizing SuperTRUMP Product to Support Transition from LIBOR

Ivory Consulting is supporting the transition of lessors from LIBOR to another interest rate by making appropriate customizations to its SuperTRUMP product. read more

LeaseAccelerator Releases Major Update to Lease Lifecycle Automation Platform

LeaseAccelerator announced a new update designed with the guidance of customer focus groups to improve analytics, the user experience and performance across the lease lifecycle. read more

G2 Names LeaseAccelerator Lease Accounting Software Leader Across Multiple Categories

G2, a business solutions review website, named LeaseAccelerator, a provider of lease lifecycle automation software, a leader in four lease accounting software customer service and support categories. read more

FASB Issues Standard to Improve Lessors’ Accounting for Certain Leases with Variable Lease Payments

The Financial Accounting Standards Board issued an accounting standards update intended to improve an area of the leases guidance related to a lessor’s accounting for certain leases with variable lease payments. read more

Insight Financial Services Achieves Sixth Consecutive Recertification of SOC 1 Type 2

Insight Financial Services, a division of Insight Investments, achieved its sixth consecutive completion and recertification of the Service Organization Control (SOC) 1 Type 2 audit. read more

FASB Proposes Improvements to Discount Rate Guidance for Non-Public Lessees

The Financial Accounting Standards Board issued a proposed accounting standards update that would improve discount rate guidance for lessees that are not public business entities, including private companies, not-for-profit organizations and employee benefit plans. read more

LeaseQuery: Balance Sheet Liabilities Climb Amid Lease Accounting Transition

Companies are continuing to feel the brunt of the new lease accounting standards this year, with the average company experiencing lease liability increases of 419%, according to the 2021 Lease Liabilities Index Report from accounting technology provider LeaseQuery. read more

FASB to Host Virtual Credit Losses Roundtable on May 20

The Financial Accounting Standards Board will host a virtual roundtable on the implementation of the current expected credit losses (CECL) standard and related technical issues. The event will be webcast live at fasb.org on May 20 from 9 a.m. to 12 p.m. EST. read more

ROI Opportunities from Adopting Lease Accounting Standards Still Prevalent

According to LeaseAccelerator and EY’s 2021 Global Lease Accounting Survey, while lease accounting standards for public companies have been around since 2019, there is still an opportunity to drive ROI from the investments made in adopting the standards. read more

LTi Begins Support for Transition from LIBOR to SOFR

LTi Technology Solutions will now provide support for the LIBOR to SOFR transition in all versions of its flagship product, ASPIRE V5. While the official end of LIBOR is still several months away, LTi is taking this action now with the goal of ensuring efficient replacement. read more

Visual Lease Named One of the Fastest Growing Companies in New Jersey

Visual Lease, a provider of lease accounting and management software, was named No. 10 on NJBIZ’s list of New Jersey’s 50 Fastest Growing Companies in 2020. read more

Visual Lease Launches Integrations Hub to Provide Open Access to Lease Data

Visual Lease, a provider of lease accounting and management software, launched its Integrations Hub, which offers a platform to access third-party applications. The company unveiled the platform during a virtual launch event on Dec. 8. read more

ELFA Releases Key Takeaways From FASB Meeting on Leases Standard

The Equipment Leasing and Finance Association released key takeaways from the Dec. 2 meeting of the Financial Accounting Standards Board. These takeaways were prepared by John Bober, chair of the ELFA financial accounting committee. read more

LeaseQuery, Sage Fixed Assets Partner to Provide Intelligent Asset Management Tech

LeaseQuery, a provider of lease accounting software, entered a partnership with Sage Fixed Assets, a provider of asset management software. This alliance will allow LeaseQuery and Sage Fixed Assets to combine lease management and capital management. read more

FASB Paper Helps Stakeholders Apply Borrower’s Accounting for Debt Restructurings

The Financial Accounting Standards Board released a FASB staff educational paper that provides stakeholders with a summary and overview of a debtor’s application of guidance on debt restructurings and modifications. read more

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