Explore latest insights, tips, and trends on accounting audit from Nakisa
The post walks through an example scenario to illustrate the first three steps for GASB 87 lease accounting calculations: the initial lease liability, the right-of-use asset value, and the interest expense for each period under the new lease accounting rules for government entities.
This blog explores the challenges government entities face in achieving GASB 87 compliance and highlights how specialized lease accounting software can streamline the process through automated calculations, centralized data management, robust reporting, and seamless integration capabilities.
Explore how Nakisa Lease Administration software addresses the gaps identified in a PwC study concerning missing functionalities in many lease accounting solutions. These include robust auditing, reporting, workflow management, ERP integration capabilities, and support for multiple accounting standards.
The blog outlines five key differences between real estate and equipment leases: dollar values, data decentralization, rent calculations, administration processes, and accounting nuances. It emphasizes the need for a comprehensive solution that seamlessly handles the complexities of both lease types.
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
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.
