A key component of complying with the new FASB 842 and IFRS 16 lease accounting standards will require investment. An overwhelming majority (92 percent) of respondents from The Great Accounting Challenge: KPMG’s 2016 Accounting Change Survey believe they will need to upgrade their lease accounting system or invest in new technology as a result of the new lease accounting guidelines. In addition, 77 percent say that technology upgrades will be the most challenging part of compliance.
We are often asked if the new lease accounting standards are a real estate management or an accounting problem. The answer is yes! In fact, those aren’t the only groups that will be affected. The new standards have a much more far-reaching impact than most changes to accounting rules, so folks across the organization will need to step up to the plate to tackle this difficult challenge. Here are some functions to consider.
As we usher in the new year, many organizations are turning their attention from the implementation of the new FASB revenue recognition standards to the new lease accounting standard. Time is running short, and many accounting and real estate teams are finding that compliance will be more challenging than initially expected.
This week, the Financial Accounting Standards Board (FASB) decided to attempt to reduce costs and decrease the challenges associated with implementing the board’s new lease accounting standard (FASB ASC Topic 842). The announcement contains some potentially good news for AMTdirect customers.
AMTdirect welcomes Steve Madden to our client community. We are delighted to have been selected to help the firm streamline lease administration and accounting ahead of the new lease accounting reporting requirements scheduled to go into effect next year.
Steve Madden, is a publicly traded company based in Long Island City, New York. Founded by designer and businessman, Steve Madden. The high-fashion, rock-and-roll inspired brand designs and markets shoes and accessories for women, men and children. The company's brands include Steve Madden, Steven by Steve Madden, Madden Girl, Freebird by Steven, Stevies, Betsey Johnson, Betseyville, Report Signature, Report, Big Buddha, Wild Pair, Cejon, and Mad Love.
There are approximately 120 Steve Madden stores across the United States, and 250 in over 65 countries.
CHARLOTTE, N.C. and SAN FRANCISCO, Nov. 8, 2017 /PRNewswire/ -- AMTdirect, LLC ("AMTdirect"), a leading provider of lease administration and lease accounting solutions, today announced it has received a strategic growth investment from Luminate Capital Partners, a San Francisco-based private equity firm.