Explore latest insights, tips, and trends on lease accounting from Nakisa
I am first and foremost a technology geek and a product manager. I love using technology to solve complex problems. The last couple of years have been really special to me, I have had the chance to work on something amazing with our Lease Accounting
As we reach mid-2019, public companies are wrapping up their compliance efforts for the new ASC 842 and IFRS 16 lease accounting standards which officially took effect for public organizations in January 2019.
The blog post highlights the need for efficient ongoing lease accounting processes after achieving initial compliance with IFRS 16 and ASC 842 standards. It explores how purpose-built lease accounting software can streamline operations, centralize data, enhance collaboration, and integrate with ERP systems to drive efficiencies
According to a 2017 report from Ernst and Young, “The new lease accounting standards could have far-reaching implications for oil and gas entities. The impacts go beyond accounting, to commercial decision-making and strategic financial decisions.”
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While the soon-to-be-implemented leasing standard IFRS 16 won’t require organizations involved with leases to raise their right hand and swear an oath, they will need to ensure they’re telling the whole truth about their leases.
Over the past several years—since the new standards were announced—organizations of various sizes and in various industries have been collecting and organizing important lease data, calculating obligations, and determining current right-of-use assets to ensure they are complying with the standards from the first day they
Think you need superpowers to achieve IFRS 16/ASC 842 compliance? Think again.“Look up in the sky! It’s a bird! It’s a plane! It’s…” well you know the rest.
The challenges facing transportation companies can be overwhelming—from pricing pressures to rapid shifts in technology to regulatory
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