Just as you’ve been preparing to become compliant, audit firms have been preparing as well; determining what and how to verify and validate your disclosures. Bramasol determined that the best way for you to prove the accuracy of the data in your disclosures was to develop not only drill-through Disclosure Reports but also drill-through Validation reports. Your proof is in the details.
Webinar Video- Are your ASC 842 Disclosures Validated? Your Auditors Will Require Proof
Wed, Jan 16, 2019 @ 07:17 AM / by Bramasol Leasing Administration Team posted in leasing, SAPLeaseAdmin, Disclosure Reoprting
New Leasing eBook- Tips and Strategies for Estimating the Lease Term
Fri, Dec 7, 2018 @ 07:55 AM / by Bramasol Leasing Administration Team posted in leasing, SAPLeaseAdmin, ASC 842, Hot Tips
In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02 ( “ASC 842”), Leases, which provides new guidelines that change the accounting for leasing arrangements.
The new leasing standard becomes effective in fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, for:Leasing Webinar Video - Tips for Successful ASC 842 Launch
Wed, Nov 21, 2018 @ 06:33 AM / by Bramasol Leasing Administration Team posted in leasing, Leasing Solution
The January 2019 deadline for compliance with new Lease Accounting standards, ASC 842 and IFRS 16, is now looming less than two months away. Are you ready? If not, Bramasol can help
Webinar Video : ASC 842 Leasing Disclosures: More Than Compliance – Insights To Action
Mon, Sep 17, 2018 @ 06:07 AM / by Bramasol Leasing Administration Team posted in leasing, ASC 842
If you thought ASC 842 Disclosures were just to make the SEC happy, think again. Leveraging Bramasol’s Disclosure reports and analytics on SAP S/4 can provide you with insights into your lease portfolio. Manage costs, understand interest rates and view your portfolios globally so you can have real insights into your leased asset portfolio.
Understanding and applying incremental lease borrowing rate analyses under ASC 842
Tue, Jul 17, 2018 @ 04:57 AM / by Julio Dalla Costa posted in leasing, Leasing-Hot-Tips, SAPLeaseAdmin, ASC 842
In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02 ( “ASC 842”), Leases, which provides new guidelines that change the accounting for leasing arrangements.
Transitioning to ASC 842, Where are all your company’s lease documents?
Tue, Jul 10, 2018 @ 02:33 AM / by David Ogletree posted in leasing, Leasing-Hot-Tips, IFRS16, ASC 842
The new lease accounting standard ASC 842 is effective for public companies beginning January 1st, 2019. The primary purpose of the standard was to address the fact that most operating leases are deemed off balance sheet financing arrangements and currently are only disclosed via a company’s financial footnotes in the “Commitments and Contingencies” footnote.
ASC 842: FASB provides an additional optional transition relief for companies
Tue, May 22, 2018 @ 03:19 AM / by Julio Dalla Costa posted in leasing, FASB, Leasing-Hot-Tips, ASC842, SAPLeaseAdmin
On January 5th, 2018, the Financial Accounting Standards Board (FASB) proposed adding an optional transition method and another practical expedient for lessors to Accounting Standards Codification (ASC) 842, Leases, to reduce the cost and complexity of implementing the new standard.
Video: New Lease Accounting Standards Get Ready for Compliance
Wed, Jan 31, 2018 @ 06:12 AM / by Bramasol Leasing Administration Team posted in leasing
Issued by the IASB (International Accounting Standards Board), IFRS 16 & ASC 842 lease accounting requirements go into effect starting on January 1, 2019. The new standards require extensive reporting detail and have the potential for major impact on companies' balance sheets and income statements. Industry experts advise companies with large lease portfolios to allow significant time in advance of the deadline to identify, compile, and evaluate lease contracts.
Kick-off Meeting for New SAP Leasing User Group on December 5, 2017
Mon, Nov 27, 2017 @ 05:07 PM / by Bramasol Leasing Administration Team posted in leasing, Leasing-Hot-Tips
We are excited to announce the formation of a new SAP Leasing User Group and pleased to invite you to the first online meeting:
December 5, 2107 at 9 AM PST - 12 PM EST.
ASC 842 and IFRS 16 Lease Accounting is Different for Real Estate vs. Equipment
Mon, Oct 9, 2017 @ 06:33 AM / by Bramasol Leasing Administration Team posted in leasing, Leasing-Hot-Tips
In 2016, the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) issued new standards for lease accounting: IFRS 16 & ASC 842, which must be implemented by 2019. Both IFRS 16 and ASC 842 are the result of a joint effort between the IASB and FASB to meet the objective of improved transparency, comparability and financial reporting.