Curated Content
ESG Resources
ESG is becoming one of the foremost considerations of the real estate industry. Scribcor is compiling a collection of resources addressing the challenges and opportunities that ESG presents. We will be updating these resources on an ongoing basis, so check back soon!...
EU’s New ESG Reporting Rules Will Apply to Many US Issuers
New environmental, social and governance (ESG) reporting requirements in the European Union (EU) and the US are set to fundamentally change the nonfinancial reporting landscape. The new EU rules will require ESG reporting on a level never seen before, and will capture...
Office Building Owners Drown in Tide of Sublease Space
Companies throughout the U.S. are flooding the market with office space to sublease as landlords already face weak demand as firms embrace hybrid work models. Read the rest of the story on WSJ's website.
FASB Improves Discount Rate Guidance for Lessees that are not Public Business Entities
The Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) that improves discount rate guidance for lessees that are not public business entities—including private companies, not-for-profit organizations, and employee benefit plans. ...
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!
A New Trend for Performance Metrics?
In the aftermath of lease accounting standards ASC 842 and IFRS 16, public companies are now evaluating the impact of these changes on the calculation of common business performance metrics. Some international companies are choosing to amend how they measure...
Private companies falling short on lease accounting standard
Approximately 40 percent of private companies are behind schedule on implementing the new lease accounting standard or haven’t started getting ready yet, even though the implementation deadline is approaching, according to a new survey. Read the rest of the article on...
Companies Are Moving Slowly on ASC 842
Here's a look at issues companies will face in implementing the new lease accounting standard. Read More
CFOs Uncover Surprise Savings as They Implement New Lease-Accounting Rules
"As finance executives analyze thousands of lease contracts to comply with new rules, they’re rewarded with potential savings." Read the Wall Street Journal Article Here: CFOs Uncover Surprise Savings as They Implement New Lease-Accounting Rules