The lease standard is delayed: Next steps for CPA firms and their clients

Oct 10, 2019 2:08:53 PM / by Ane Ohm posted in LeaseCrunch®, New Lease Standard, Technology

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Written by Ane Ohm, Co-Founder and CEO, LeaseCrunch®

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LeaseCrunch® CEO to present at Swenson Advisors and Surgent events

Oct 8, 2019 10:46:12 AM / by LeaseCrunch® posted in LeaseCrunch®, New Lease Standard, Technology

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LeaseCrunch® CEO Ane Ohm will present at the upcoming Swenson Advisors Hot Topics Seminar and the Surgent online training webinar, both in October.

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In the News: IPA Vendor Spotlight On... LeaseCrunch®

Sep 25, 2019 4:47:09 PM / by LeaseCrunch® posted in LeaseCrunch®, New Lease Standard, Technology

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Written by Ane Ohm, Co-Founder and CEO, LeaseCrunch®

 

How is LeaseCrunch impacted by delaying the new lease standard implementation for non-public companies?

Interest in our lease accounting software hasn’t slowed. CPA firms are successfully using the software to work through implementations for both public and privately held organizations, with many more firms telling us they’re working to keep momentum going with clients despite the delay.

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In the News: Spreadsheets Are Not the Only Option for Companies With Small Lease Portfolios

Sep 6, 2019 8:00:00 AM / by Ane Ohm posted in LeaseCrunch®, New Lease Standard, Technology

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Written by Ane Ohm, Co-Founder and CEO, LeaseCrunch®


Will spreadsheets do the trick for implementing the new lease standard? The general consensus seems to be “no,” but I still hear about organizations exploring the spreadsheet route—especially those with smaller lease portfolios who feel there isn’t a viable software option.

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In the News: WeWork Hosts Analysts Before IPO; Debt, Lease Obligations in Focus

Aug 1, 2019 9:37:21 AM / by LeaseCrunch® posted in LeaseCrunch®, New Lease Standard

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In less than a decade WeWork has created a brand with global recognition that investors valued at $47 billion in its latest fundraising. That valuation is 10 times the market cap of its larger rival, Zug, Switzerland-based IWG Plc.

“There’s a lot of desire to handle this IPO in an intelligent way and present a viable business model to the Street and to the analysts because nobody wants WeWork to fail,” said Michael Cohen, president of greater New York City at brokerage Colliers International Group Inc.

Property owners have embraced flexible workspaces that allow a variety of tenants to house temporary operations at the same site without signing long-term leases. But short-term contracts pose an investment risk if tenants vacate and revenue dries up during a downturn.

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In the News: 3 Steps to Understanding Lease Materiality

Jul 25, 2019 10:20:19 AM / by LeaseCrunch® posted in LeaseCrunch®, New Lease Standard

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The issue of materiality in the new lease accounting standard can be challenging, but LeaseCrunch, the only lease accounting software made by former CPA firm auditors for CPA firm auditors, says there are three key steps to understanding the issue.

“Now that operating leases must be captured on financial statements under the new lease standard, many CPAs are wondering about materiality,” said Ane Ohm, CEO of LeaseCrunch.  “For the international standard, IFRS 16, the materiality threshold is set at $5,000, meaning that leases under that amount do not need to be accounted for on the books.

“However, FASB did not set a similar threshold for materiality under the U.S. standard, ASC 842, so many organizations are wondering how to determine what operating leases are material enough that they should be added onto their balance sheets. 

“As with many aspects of the new lease standard, materiality is an area that requires judgment—though there are important considerations that can help.”

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In the News: 5 things you may not know about the lease standard

Jul 22, 2019 1:41:26 PM / by Ane Ohm posted in LeaseCrunch®, New Lease Standard

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As with any accounting standard shift, the new lease standard (ASC 842) brings momentous changes to accounting processes and financial reporting. While the main differences are well-known, I’ve taken a particular interest in the smaller nuances that live within the new standard. (Yes, I’m an accounting nerd and I love learning about and discussing all things related to leases!)

In this article, I’m sharing five of those intricacies that you may not know about the new lease standard, but that are critical to making the transition.

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LeaseCrunch® to share insights in free Accounting Today webinar: “ASC 842: Lessons learned from early implementations”

May 13, 2019 1:34:12 PM / by LeaseCrunch® posted in LeaseCrunch®, New Lease Standard, CPA Firms

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MILWAUKEE, May 13, 2019 – LeaseCrunch®, the only lease accounting software made by former
CPA firm auditors for CPA firm auditors, will share their expert insights in the free Accounting
Today webinar, “ASC 842: Lessons learned from early implementations,” to be held on May 16th at 2 PM (EST).

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ProNexus Selects LeaseCrunch® as Lease Accounting Solution to Clients

May 2, 2019 8:00:00 AM / by LeaseCrunch® posted in LeaseCrunch®, New Lease Standard, Technology

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MILWAUKEE, May 2, 2019 – LeaseCrunch®, the only lease accounting software made by former CPA firm auditors for CPA firm auditors, today announced that ProNexus will use LeaseCrunch® software as their lease accounting solution for their clients.

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LeaseCrunch® partners with Moore Stephens North America through Strategic Partner Program

Apr 4, 2019 10:00:00 AM / by LeaseCrunch® posted in LeaseCrunch®, New Lease Standard, CPA Firms, Technology

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Provides expanded distribution channel for LeaseCrunch® software to over 40 firms with more than 150 offices and nearly 7,000 professionals 

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