Transition Accounting: How to Transition to ASC 842 Using Nakisa Lease Administration
It’s 2019. And that means the new lease accounting standard ASC 842 has officially taken effect....
Achieving efficiencies in accounting processes post-compliance – and how technology can help
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 in post-compliance lease accounting....
4 Key Accounting Considerations for Oil and Gas Companies
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.”...
Time’s Almost Up: Are You on the Fast-Track to Compliance?
Okay. So, we’ll spare you the cheesy 80’s music references. But for organizations still making the switch to the new IFRS 16 or ASC 842 standards, the sentiment rings true. Time is quickly running out until the January 2019 deadline....
Getting Ahead of IFRS 16/ASC842: Lessons Learned from Early Adopters
While many companies are scrambling to meet the approaching January 2019 deadline to comply with the new IFRS 16 or ASC 842 lease accounting standards, not all are waiting until the last minute....
3 Ds to Compliance and Beyond with the New Lease Accounting Standards
The clock is ticking as organizations get set to meet the requirements of new lease accounting standards. Issued in February 2016, FASB Accounting Standards Codification (ASC) Topic 842, requires lessees to report assets and liabilities related to leases of one year or more, on the balance sheet. ...
Your Guide to Being a SAPPHIRE High-flyer
Verify! Your tickets, schedules, and agenda. Things can change last minute and you don’t want to be late, miss an important meeting, or worse still - to find that a meeting has been cancelled and you now have a large block of time to kill wondering what you could have been doing instead....
Accelerating Compliance: Can the Cloud Help You Make Your Compliance Deadlines?
In 2016, the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) issued new requirement standards for lease accounting: IFRS 16 & ASC 842, which must be implemented by 2019....
FASB Simplifies the Transition to ASC 842: What Does This Mean?
The Financial Accounting Standards Board, or FASB, has made decisions it hopes will reduce costs and ease the burden for companies working to adopt new lease accounting rules known as ASC Topic 842. In response to feedback about the effort required to reflect the new rules in all years in a set of financial statements, the FASB is offering a scaled-back approach that leaves prior years untouched....
Lease Administration by Nakisa 4.0: Does it really matter?
The new lease accounting standards, 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 requirements....
Cost Saving Measures: Practical Expedients for Transition Accounting
As the go-live date for the new lease standards (ASC 842 & IFRS 16) is approaching fast, businesses should consider the practical expedients available to ease the burden of adoption and transition....
Nakisa Lease Administration Release to Deliver New Advancements
The post announces the release of Nakisa Lease Administration version 5.1, which delivers several new enhancements including improved reporting capabilities, new user management features for roles and audit trails, and updates to support stronger compliance with lease accounting standards like IFRS 16 and ASC 842....
