Tools & Tips

The Magic of “Unlimited Modifications”

One small lease modification can have a huge impact on your reporting. With our Unlimited Modifications feature you can perform any number of modifications within contracts, and the software jumps in with automatic detection and re-analysis of the contract and payments.

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Tools & Tips

Ready To Accelerate Your Close Process?

The close process requires significant focus and attention and can be quite stressful for controllers, auditors, and CFOs. In this blog post, we look at how an AI-powered lease solution will create efficiencies in your close process, including a specific client case study and actionable takeaways for your company.
Tools & Tips

What to Look For When Comparing Software for Lease Accounting

Lease accounting has changed tremendously over the past few years, with key accounting standards in this area being completely overhauled. So, what should you look for when comparing software for lease accounting? We’ll go through everything you need to know. 
Tools & Tips

Equipment Lease Accounting Under ASC 842

The vast majority of companies lease some kind of equipment. For large manufacturers this might be a specialized piece of machinery, while for a service provider this may be printers, or other office equipment. ASC 842 details some very specific ways to deal with equipment leases.
Tools & Tips

5 Accounting Hacks We Are Thankful for this Year

Thanksgiving is the time of the year to be thankful for the bigger, and smaller, things in life. Whether those things are personal or work-related, being thankful is actually proven to be good for you. We hope that you too can benefit from these hacks, and find even more to be thankful for in the year ahead.
Tools & Tips

How to calculate lease liability under IFRS 16

One of the most significant elements of IFRS 16 is calculating the lease liability. In this article we go through the steps required in order to calculate the lease liability, and also take a look at some common pitfalls and helpful tips when it comes to this calculation.
Tools & Tips

IBR: The Bottleneck of Lease Accounting

In this article, we'll examine why the IBR is so important & then look at how to select and calculate the discount rate to be used in your company’s lease calculations.
Tools & Tips

2 Years Into IFRS 16 Adoption: Lessons Learned

While there was much uncertainty swirling around when IFRS 16 replaced IAS 17, over the course of the past two years, a lot has become clearer. What’s more, we can learn from others in terms of what to do and what not to do when it comes to IFRS 16 compliance. In this article, we’ll look at the main lessons learned 2 years into IFRS 16 adoption.
Tools & Tips

How to choose ASC 842 software

Choosing the right ASC 842 software can be challenging. In this article, we’ll guide you through the process, including the right questions to ask of your lease accounting software, what to look out for, and potential pitfalls to avoid.
Tools & Tips

ASC 842 Disclosure Requirements & How to Avoid Common Pitfalls

ASC 842 disclosures ensure that key information is presented to the user of the financial statements and allows such users to assess the amount, timing, and uncertainty of cash flows arising from leases. Read on for more information on disclosure requirements, the common pitfalls, and advice on how to avoid them.
Tools & Tips

How to Identify an Embedded Lease

You might have heard the term “embedded lease” appearing increasingly often, especially in relation to ASC 842. While you won’t find the term mentioned explicitly in these accounting standards, the concept is extremely relevant and highly important – and can make a huge difference to your bottom line, quite literally.
Tools & Tips

Why AI Is Here To Help Accountants – And Not Replace Them

Technology is replacing many of the tasks previously carried out by human beings. Especially when it comes to manual, repetitive jobs such as product assembly, robots have shown that technology can accomplish these tasks quicker, better and cheaper. Are accountants too set to be replaced by AI? (Hint: we don’t think so.)