A recent article in Accounting Today provides an excellent view of how companies in many industries are moving toward compliance with the new lease accounting standards, ASC 842 and IFRS 16.
Nakisa, Bramasol's partner for leasing solutions, has announced general availability of the new 4.0 version of Lease Administration by Nakisa.
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.
For the past forty years, companies have been building all their financial and business decisions around information contained in traditional data structures. Virtually all financial systems, no matter who has designed them, have been built around relational databases. This brings the same set of issues and challenges to every single system.
Bramasol, the leader in compliance and finance innovation solutions, has announced a new, purpose-built product that reduces complexity and implementation costs, to give companies across a variety of industries a ready-to-deploy solution for lease accounting disclosure reporting and compliance.
A recent blog post by Bramasol CEO Dave Fellers posed this important question: "How does a company go about getting targeted cost-effective compliance in the near-term along with a transformative path forward to overall Finance Innovation?"
Our customer is an American manufacturer and multi-level marketing global giant which specializes in skincare products. They have built a premium skincare brand on a legacy of innovative dermatology-inspired skincare products which in turn are backed by clinical results.
Sometimes as you move forward, it can also be helpful to take a look back and see how far we've come.
