Lease Accounting Holiday Wish List
As many large international companies are learning, the conversion to ASC 842 and IFRS 16 was not a process that ended with the transition date or first annual reporting cycle. In addition to dealing with both US GAAP and IFRS reporting, the underlying challenges of maintaining accurate data, reconciling financials, dealing with different languages and … Continued
Q & A with Jackson Cross Partners'(3)
In the years leading up to the 2019 Transition Date for ASC 842 and IFRS 16, we authored a couple of articles on FASB’s Gift and Moneyballing CRE where we projected that the significant investment in new systems, data assembly, financial integration and new processes and controls would pay substantial dividends in the overall asset … Continued
Thanks for the great feedback on my last post on short-term leases, I received a few questions about this statement on potential negative impacts, “Signing short-term leases exposes a lessee to tremendous risk in retaining the underlying asset, and to predict the cost of that lease.” I’ll expand on those two risks here.
In the lead up to, and adoption of, the new lease accounting standards, many have looked at short-term leases to manage the impact on corporate balance sheets. However, they may be providing false hope.
Jackson Cross Partners has one very important key tip when it comes to implementation and ongoing lease administration. Some of the most successful projects we have been a part of have one common denominator that sticks out as a differentiator.
As a result of the Novel Coronavirus, Accounting Departments within Private and Non-Profit organizations received their second round of relief from the standard boards as it relates to New Lease Accounting effective dates.
In April, the Financial Accounting Standards Board (FASB) provided a Q&A document regarding relief for the rent concessions negotiated from the COVID-19 pandemic. As some of those concessions may be expiring, I’d like to revisit the topic and update some earlier suggestions I made.
The recent economic challenges related to the COVID-19 pandemic have caused businesses to look for ways to raise cash to weather the financial storm. A number of companies are looking into sale and lease-back transactions (SLB) of their own real estate as a way to raise capital.