Lease Accounting

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

FASB Issues Proposal to Clarify Scope of Recent Reference Rate Reform Guidance

The Financial Accounting Standards Board issued a proposed accounting standards update that would clarify the scope of the FASB’s recent reference rate reform guidance. Stakeholders are asked to review and provide input on the proposed ASU by Nov. 13. read more

Leaseurope, ELFA, CFLA Call on IASB to Reassess Lease Accounting for SMEs

Leaseurope, the ELFA and the CFLA issued a joint statement in response to the IASB’s Comprehensive Review of the IFRS for SMEs Standard, calling for independent cost-benefit analysis specific to SMEs before any decisions are made on changes to lease accounting. read more

FASB and ASBJ Hold Biannual Meeting to Continue Developing Global Accounting Standards

The Financial Accounting Standards Board and the Accounting Standards Board of Japan held a meeting on Oct. 26 and Oct. 27. The meeting was the 28th in a series of biannual meetings to further the two organizations’ cooperative efforts to develop global accounting standards. read more

FASB Proposes Clarifications to Accounting for Modifications of Equity-Classified Forwards

The FASB issued a proposed accounting standards update that would clarify an issuer’s accounting for certain modifications or exchanges of freestanding equity-classified forwards and options (for example, warrants) that remain equity classified after modification. read more

FASB Proposes Three Targeted Improvements to the Leases Standard

The Financial Accounting Standards Board issued a proposed accounting standards update intended to improve three areas of the leases guidance. Stakeholders are encouraged to review and provide comments on the proposed changes by Dec. 4. read more

Visual Lease Launches On-Demand Virtual Training Center

Visual Lease released VL University, a new virtual training center that provides self-service, video-based instruction to help customers maximize the use of their lease lifecycle management solutions. read more

Visual Lease Launches Lease Accounting Milestone Planner

Visual Lease, a provider of lease accounting and management software, launched its Lease Accounting Milestone Planner (LAMP) tool to help companies prepare for tasks leading up to ASC 842 and GASB 87 compliance deadlines. read more

Visual Lease Releases Version 20.4 to Increase Transparency in Lease Accounting

Visual Lease released its latest product release, version 20.4, which features an enhanced accounting feed audit trail that aims to provide better transparency with more granular data points, deeper calculations and more flexible reporting calculations. read more

Fiserv, LeaseQuery Collaborate to Improve Lease Accounting Processes

Fiserv is collaborating with LeaseQuery to enable financial institutions to advance their lease accounting processes and address industry standards. Fiserv’s Prologue Financials accounting software user will gain access to lease accounting software from LeaseQuery. read more

FASB Launches Post-Implementation Review Web Portal

The Financial Accounting Standards Board launched its new post-implementation review (PIR) web portal. The PIR process is a quality control mechanism built into FASB’s standard-setting process that begins after a standard is issued. read more

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