CPA Firms Claim Potential Bank Loan Violations are Top of Mind for Clients

Jan 3, 2019 4:26:21 PM / by LeaseCrunch® posted in New Lease Standard, CPA Firms, LeaseCrunch®

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69% of the auditors said that their clients have raised the issue of potentially violating bank loan covenants

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Accounting Academic/Former FASB Project Manager Discusses New Lease Accounting Standard

Dec 21, 2018 1:26:14 PM / by LeaseCrunch® posted in New Lease Standard, LeaseCrunch®, FASB

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Using practical expedients, determining the lease term, assessing your discount rate, lease renewals and previously capitalized balances

MILWAUKEE, December 19, 2018 – John Hepp, retired Grant Thornton partner, former FASB project manager and current accounting faculty member at University of Illinois at Urbana-Champaign, discusses several nuances of the new lease accounting standard, from practical expedients (“the spoonful of sugar to help the medicine go down”) to discount rates and much more, in a new LeaseCrunch® blog posting.  Topics covered:

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What Major Change in Lease Accounting Means for Banks

Dec 13, 2018 2:32:19 PM / by LeaseCrunch® posted in New Lease Standard, LeaseCrunch®, CPA Firms, FASB

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Banks are bracing for the impact — on two fronts — of a new federal rule that will change how companies account for the cost of leasing everything from equipment to automobiles to space in office buildings or shopping centers.

Read about what our very own CEO, Ane Ohm, said about the change.

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LeaseCrunch® Survey of Auditors at 77 US CPA Firms

Nov 2, 2018 2:51:38 PM / by LeaseCrunch® posted in New Lease Standard, LeaseCrunch®, CPA Firms

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MILWAUKEE, November 2, 2018 – In a survey of auditors at 77 US CPA firms conducted by LeaseCrunch®, 58% believe that the new recognition of a lease obligation will adversely affect loan covenants for their clients.

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Auditors See Challenges in New Leasing Standard

Nov 1, 2018 2:45:00 PM / by LeaseCrunch® posted in New Lease Standard, LeaseCrunch®, Auditing

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The new lease accounting standard that takes effect for public companies next year poses obstacles for the audit firms that have begun implementing it for their clients.

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LeaseCrunch in the News: LeaseCrunch Partners with CPA Firms on Lease Accounting Software

May 21, 2018 3:35:24 PM / by LeaseCrunch® posted in FASB, LeaseCrunch®, New Lease Standard

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A group of former CPA firm auditors has teamed up to develop LeaseCrunch, lease accounting software that they’re selling through CPA firms to help clients deal with the new FASB standard.

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