Curated Content Articles

Articles selected by the Scribcor Global team.

Retail Tenants and Landlords Evaluate Potential New Rent Arrangements due to COVID-19’s Impact on Sales

Many retailers are demanding better terms from landlords as the COVID-19 pandemic slows sales, such as paying a percentage of their sales as rent rather than a fixed monthly or quarterly fee. To offset some of the new risks, landlords are seeking to include a portion...

IASB Proposes Coronavirus Relief on How Companies Account for Their Rent Concessions

Under the current ASC 842 lease accounting rules, rent concessions and other lease modifications could trigger the remeasurement of right of use assets and lease liabilities for each lease affected.  If you report under the international standard IFRS 16, help is...

ASC 842 Adoption Leads to Sharp Increases in Reported Lease Liabilities on Balance Sheets

Balance sheets across numerous industries showed large increases in lease liabilities due to ASC 842 adoption. Financial institutions saw the greatest increase across average lease liability. Companies continue to report that adoption and implementation of the new...

Are you in control of your lease data and lease accounting processes or are they in control of you?

If you are struggling with maintaining your lease data to stay in compliance with lease accounting standards, here are a few tips to help you through your closing period.  Read the full article on CFO. Contact us today if you need help controlling your lease data!