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How to effectively implement the new lease accounting standard
The new lease accounting standards—ASC 842 lease accounting for U.S. GAAP and IFRS 16 for international reporting—are a significant change for companies, lessors, and investors alike. Staying compliant while ensuring your financial reporting is accur…
Capital lease vs. operating lease: What’s the difference?
Making the right decision between capital and operating leases is essential for businesses to manage finances effectively. These two lease types differ in their accounting treatment, financial implications, and operational considerations. This guide …
What is a triple net lease (NNN)?
A triple net lease (NNN) is one of the most popular types of commercial real estate leases in the U.S. It’s especially common for retail spaces, restaurants, and other franchise businesses. With a triple net lease, tenants are responsible for more th…
Top 4 challenges of Excel-based lease accounting
Including Microsoft Excel in your lease accounting workflow may seem like the simplest or most practical way to manage simple accounting tasks. And it would be – if the business landscape never changed. While Excel can be a great starting point, it c…
Creating a business case for lease management software
In the highly competitive world of property management, staying on top of your portfolio is the key to success. However, juggling leases can be a complex task of documents, deadlines, and specifics that often challenge even the most experienced lease…
How leasing software mitigates the challenges healthcare organizations face
Healthcare organizations face numerous challenges, ranging from managing their resources efficiently to ensuring regulatory compliance and providing the best possible care to patients. One of healthcare organizations’ most significant challenge…
More data, more problems: The need for collaboration across real estate teams
Every action that takes place in and around a building has the potential to create data – and lots of it. Information comes from leases, work orders, energy usage alarms, sensors, and more. The people that set foot on your property generate data poin…
What is Lease Accounting?
Effective from December 15, 2018 for private sector organizations, and more recently in the public sector from December 15, 2021, ASC 842 is the new standard for lease accounting issued by the Financial Accounting Standards Board (FASB). Meanwhile, G…