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AMTdirect Insights Blog

AMTdirect Insights Blog

FASB Announces Simplified ASC 842 Requirments

Posted on 7/31/18 1:39 PM by Amber Bigler Newman in FASB

The Financial Accounting Standards Board has approved pending simplification of the new ASC 842 lease accounting requirements, eliminating the need for look-back financial statements .

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AMTdirect and RSM Help Organizations Comply with FASB ASC 842, IFRS 16 Lease Accounting Mandates

Posted on 6/20/18 1:01 PM by Amber Bigler Newman in FASB, in Partners, in RSM

AMTdirect's software solution and RSM's middle market insights provide a seamless path to compliance with new lease accounting, reporting requirements.

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11 Reasons Excel Won’t Work for FASB 842

Posted on 5/10/18 2:41 PM by Amber Bigler Newman in FASB, in Lease Accounting

Excel is one of the most popular software applications on the planet for good reasons. It’s extremely flexible. It’s cheap. Pretty much everyone knows how to use it to one extent or another, and it’s a great file format for uploading or downloading data from all sorts of other applications. What’s not to love?

In fact, in theory, you could use Excel for managing your entire business. It could be your CRM, your HR system, your inventory control solution, or your POS. It probably isn’t though. Why? Because these tasks are so important and so specialized that it makes sense to use applications that are designed for exactly that purpose. Doing so reduces risk, ensures consistency, and lets you take advantage of custom features that uniquely fit the task at hand.

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New Seasons Market Joins the AMTdirect Community

Posted on 4/24/18 2:10 PM by Amber Bigler Newman in FASB, in Customers

AMTdirect is proud to announce that we have been selected by New Seasons Market as their new lease administration and accounting solution.

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10 Questions to Ask Before Selecting FASB 842 Software

Posted on 3/14/18 5:45 PM by Amber Bigler Newman in FASB, in Technology, in Lease Accounting

Time is running short for compliance with the new FASB 842 and IFRS 16 lease accounting mandates. Selecting the right technology solution is essential for meeting the deadline in the short term and streamlining ongoing compliance into the future. There are several types of solutions on the market, so it can be difficult to know exactly what to look for.  Here are some questions you can ask any vendor you consider to ensure you are getting the technology you need.

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Developing a Budget for Lease Accounting Compliance

Posted on 2/28/18 12:00 AM by Amber Bigler Newman in Real Estate Accounting, in FASB, in Lease Accounting

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.

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