iLease Management LLC releases its latest whitepaper on Proposed Lease Accounting Standard Changes – Key Business Considerati
FARMINGTON, CONNECTICUT: iLease Management LLC has released its latest report on the accounting standards changes for leases proposed by the Financial Accounting Standards Board (“FASB”) and International Accounting Standards Board (“IASB”). This report goes into details on business issues that should be considered as lessees prepare for the proposed changes to the accounting standards.
Sean T Egan, Managing Partner of iLease Management LLC and author of the report states “I have heard it said many times that accounting results should not drive the basic economic decisions related to business. And I generally agree with that point of view. But it is difficult to ignore completely the accounting ramifications and business analytical metrics that result from changes in accounting treatment and certainly the changes in lease accounting currently being proposed by the FASB and the IASB will drive significantly different accounting results and metrics as compared to current accounting requirements.”
The update report examines business considerations that financial decision makers should take into account as they evaluate the impact of the proposed standard and includes further details on:
· Property Leases
· Equipment Leases
· Industry Considerations
iLease Management LLC has been closely monitoring and reporting on the FASB / IASB updates since 2011. This report and additional informative whitepapers and articles can be found on the company blog at http://www.LeaseAccountingBlog.com
About iLease Management LLC
iLease Management LLC (iLease) was formed in 2012 and is a technology provider of a Lease Management and Lease Accounting Compliance solution, iLeasePro™. Our focus is on the global real estate and equipment lessee community. The iLeasePro solution offers enterprise or mid-sized firms comprehensive and portfolio level Lease Management and Lease Analysis features developed to reduce costs, mitigate risks and address the on-going compliance requirements of the proposed changes to lease accounting standards.iLeasePro™is a scalable, cloud-basedsolution that firms will use throughout the entire lease lifecycle. Whether leases are currently on spreadsheets or in a solution, iLeasePro’s intuitive functionality allows companies to seamlessly transition its current lease operations from a single threaded process into a fully centralized and consolidated approach without having to realign its resources. The iLeasePro Lease Management solution is in the final stages of development and will be ready for Beta testing shortly. Lease Accounting and Lease Analysis solutions will follow in the near future as the proposed accounting changes are finalized.