Compliance

IFRS 16 And ASC 842 Standard Differences

by Moshe Freedman, CPA | July 22nd, 2021

In this article, we look at the differences between ASC 842 & IFRS 16 and in doing so gain a deeper understanding of how to ensure smoother and better compliance more efficiently.

Compliance

Rent Concessions Under IFRS 16: A Welcome Relief But Be Aware Of Other Issues

by Moshe Freedman, CPA | July 12th, 2021

Post-COVID concessions from the IASB are certainly welcome, but be aware of the impact that rent concessions under IFRS 16 may have on your company, as well as effective dates that have already been changed once before.

Tools & Tips

Industries You Would Not Expect To Be Impacted By New Lease Accounting Standards

by Isaac Heller | July 6th, 2021

When you think of new lease accounting standards, affected industries that spring to mind are probably the likes of retailers or manufacturers, or the equivalent government departments. Read on as we explore industries you would never expect to be affected by new lease accounting standards.

AI & Tech

The Magic Number: How Many Leases Do I Need To Justify Moving To Software?

by Moshe Freedman, CPA | June 28th, 2021

What’s the magic number? How many leases can you realistically manage with spreadsheets – and still stay GAAP compliant? 

Compliance

ASC 842 Is Set To Disrupt Multiple Industries – Is Yours One Of Them?

by Shoshi Goldstein | May 30th, 2021

While everyone is affected by ASC 842, this far-reaching change is going to impact some organizations – in fact, some industries – more than others. Read on to find out if yours is one of those industries most affected. 

Compliance

Your Guide to GASB 87 Compliance

by Lee Greene | August 2nd, 2021

Ensuring GASB 87 compliance is a challenge that grows with each additional lease you have in place. Read our blog post for more information about the standard, implementation, & ways to streamline compliance.

Tools & Tips

What Is The Lease Commencement Date – How To Determine When Your Lease Starts

by Isaac Heller | July 29th, 2021

In this article, we’ll dive a little deeper into what a Lease Commencement Date is, why it matters so much, and how you can easily ascertain the Lease Commencement Date for each of your contracts.

Tools & Tips

Webinar with Riveron: Private Company Adoption of ASC 842

by Shoshi Goldstein | July 11th, 2021

In this webinar, we will examine how to adopt the ASC 842 and provide insights for tackling typical adoption challenges, strategies for streamlining the process, considerations for implementing available technology, and more.

Tools & Tips

6 Key Questions To Ask When Considering Lease Accounting Software

by Shoshi Goldstein | June 21st, 2021

In this article, we look at 6 key questions to ask when deciding which lease accounting software is right for you. 

Compliance

GASB 96: The Next Big Thing

by Moshe Freedman, CPA | June 7th, 2021

GASB 96 has been called “The Next Big Thing” and its impact will be felt in every government department and related entity. In short, across the country GASB 96 is going to bring massive changes. Ensure you understand the impact this Statement will have, and are properly prepared to adopt it seamlessly.

Compliance

Lease Accounting Software: The $1 Billion Market You’ve Never Heard Of

by Isaac Heller | June 6th, 2021

New Lease Accounting regulations have created a $1B software market almost overnight. This post summarizes the changes and impacts of these new regulations.

Compliance

Delayed Twice, But Finally Here: When Is The Exact ASC 842 Deadline?

by Moshe Freedman, CPA | May 12th, 2021

The ASC 842 standard has been delayed and then delayed again, but finally, it’s here. But when exactly is the ASC 842 deadline?

AI & Tech

Webinar Recap: Leveraging AI for Lease Accounting

by Shoshi Goldstein | May 5th, 2021

In this webinar Deloitte Partner - Accounting and Reporting Advisory Ashok Parmar and Trullion Co-founder and CEO Isaac Heller discussed ways to leverage technology and AI for rapid growth.

AI & Tech

Trullion: The World’s First AI-powered Lease Accounting Platform

by Shoshi Goldstein | May 3rd, 2021

Trullion is the world’s first AI-powered lease accounting platform. Our software allows you to drag & drop any PDF or Excel file, and the AI will automatically detect critical data for accounting automation.

AI & Tech

AI for Firms: Leveraging Modern Technology for Lease Accounting & New Standards

by Shoshi Goldstein | May 2nd, 2021

Join Trullion CEO Isaac Heller on Wednesday, May 19 at the ncaCPA Business & Industry Spring Conference. Due to recent technological innovations the CPA profession is on the verge of a great transformation. This session focuses on what CPAs need to know about artificial intelligence, starting with identifying what exactly artificial intelligence is and possible implications for CPAs.

AI & Tech

Simplifying Tech That’s Disrupting the Accounting Industry: What’s Next in Machine Learning and Artificial Intelligence Innovation

by Shoshi Goldstein | May 2nd, 2021

Join Trullion CEO Isaac Heller and Botkeeper VP Strategy Jody Padar on May 21 at the Rainmaker Virtual SuperConference. In this session, Isaac and Jody will discuss new technologies that are disrupting the accounting industry.

Tools & Tips

10m+ Leases Could Go On The Balance Sheet By 2021

by Isaac Heller | April 8th, 2021

According to a recent US business census, there were 5.8 million businesses registered in the USA. This includes everything from a 1-person marketing freelancer to Fortune 100 Company.

Compliance

GASB 96 Summary, Overview and Effective Date

by Isaac Heller | January 19th, 2021

Read this article to find out what GASB 96 is about, when is its effective date and how your organization should prepare.

Compliance

Revenue Recognition (ASC 606): Can AI Help?

by Isaac Heller | January 4th, 2021

In the process of building our accounting software company, we've found myriad ways in which AI can help accountants operating under ASC 606 revenue recognition standards.

Compliance

ASC 842 Summary

by Isaac Heller | December 19th, 2020

In this article, you'll find a summary of ASC 842, plus adoption deadlines, operating lease criteria and tips for preparing for the regulation to kick in.

Compliance

ASC 842 Effective Date

by Isaac Heller | November 5th, 2020

When does ASC 842 come into effect, and when should you start preparing? All answers in the article.

Compliance

GASB 87 Summary – Effective Date, Main Changes and How to Prepare

by Isaac Heller | November 5th, 2020

Everything you need to know about GASB 87 - summary, effective date, main features and how to prepare.

Tools & Tips

Could Reading Leases Cost Accounting Teams $1 Billion By 2021?

by Isaac Heller | August 19th, 2020

Under ASC 842 (and GASB 87 and IFRS16) you will need to collect those data points, along with options, escalations, CPI, incentives, allowances, improvements and other risk factors.