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Will Changes in Lease Accounting Standards Bring Even More Class-Action Lawsuits?

Posted by Amber Bigler Newman

9/14/17 7:13 PM

The CFO of one of our large retail clients that is currently in the process of making the transition to the new FASB lease accounting standard remarked the other day, “We can’t afford to get this even 1% wrong.” He’s 100% correct. Earlier this year, Cornerstone Research revealed that securities class-action lawsuits related to accounting allegations like GAAP violations and weak internal controls increased 33 percent in 2016 over the year before.

The study called Accounting Class Action Filings and Statements – 2016 Review and Analysis found that an unprecedented number of mergers and acquisitions was a big contributor to the rise in lawsuits, with many cases alleging problems in reconciling non-GAAP to GAAP measures.

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PetVet Care Centers Chooses AMTdirect

Posted by Amber Bigler Newman

9/6/17 7:53 PM


AMTdirect is delighted to welcome PetVet to our family of customers. Together, we will streamline lease and location administration, reduce risk, and lower occupancy costs. 

With more than 100 general, specialty and emergency hospitals, PetVet Care Centers is a nationwide veterinary network with a solid commitment to every community they serve.  The PetVet Care Center network is rapidly growing due to its devotion to quality veterinary care, and commitment to preserving the local roots of every hospital that joins the network.

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Topics: Customers

AMTdirect Welcomes Party City

Posted by Amber Bigler Newman

8/31/17 6:39 PM


AMTdirect is very happy to welcome Party City to our customer community. They've chosen the most trusted name in leasing software and accounting compliance. 

Party City is the leading party goods and Halloween specialty retailer by revenue in North America and, we believe, the world’s largest vertically integrated supplier of decorated party goods.  The company operates over 900 company-owned and franchise stores throughout North America. Operating from its headquarters in Elmsford, New York as well as locations throughout Asia, Europe, the Americas and Australia. Party City designs, manufactures and distributes party goods found in over 40,000 retail outlets worldwide, including Party City stores as well as independent party supply stores, mass merchants, grocery retailers, dollar stores and others.

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Topics: Customers

Lease Accounting Software Checklist – 9 Critical Questions

Posted by Amber Bigler Newman

8/29/17 7:30 PM

Most people don’t evaluate lease accounting software every day. In fact, many people who have never thought much about lease accounting technology are being compelled by the new FASB and IFRS mandates to start looking for a solution that can get them to compliance on time. To help, we’ve compiled a list of the most important questions to ask any vendor you consider. You can find one with all the right answers.

1- Has the solution been validated by CPA’s and financial reporting experts?

As one major retail client of ours said, “I can’t afford to get this even 1% wrong.” While the screens that you see in a lease accounting solution aren’t terribly complex (at least they shouldn’t be) the calculations that happen behind the scenes are extremely complicated. That’s why you want to insist on a solution with vetted calculations. Better yet, if the system is recommended by some of the big accounting firms.

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Topics: Real Estate Accounting, FASB, Lease Accounting

FASB Compliance Must Do: Find Your Leases (Here’s Where to Look)

Posted by Amber Bigler Newman

8/25/17 7:08 PM

One of the biggest obstacles that most companies face as they prepare to meet the new FASB 842 and IFRS 16 lease accounting mandates is that most don’t have a centralized repository for all leasing information. Many have real estate leases in some type of system, but equipment leases and other contracts are a different story. The number one answer we get when we ask clients and prospects how many equipment leases they have is, “I have no idea.”

So, if you are in that boat, you are not alone. We can’t tell you exactly where your leases are (unless you request our lease audit service), but here are a few places you might want to look.

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Topics: FASB

AMTdirect Welcomes New CTO, Bryan Dennstedt

Posted by Amber Bigler Newman

8/21/17 6:33 PM

AMTdirect is delighted to announce that Bryan Dennstedt has joined our team as our new CTO. Bryan now leads AMTdirect’s technology team and will help shape the future of our continuous innovation.

Prior to joining AMTdirect, Bryan was a partner at TechCXO where he provided on demand CTO consulting services to distinguished clients in Healthcare and other industries. Previously he was the CTO at iPic Entertainment, providing the ultimate cinema and restaurant experience with 15+ locations. At iPic, Bryan was responsible for all information technology operations, including product research and development, development operations, and the customer experience.

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Topics: AMTdirect Team

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Your home for great information about what's going on at AMTdirect, trends in corporate real estate, industry specific analysis and posts from our favorite guests. 

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