Private Sector Organizations Face Hurdles as They Prepare for Compliance to New Lease Accounting Standards
ATLANTA, Feb. 26, 2019 (GLOBE NEWSWIRE) -- Though private companies have nearly a year before they will be required to comply with the FASB/IASB lease standard, the challenges faced by publicly traded companies that recently complied should serve as a warning to start implementing the new standard sooner rather than later.
Several key challenges public companies experienced were that they uncovered more leases than expected, many struggled with centralizing lease management, and still others underestimated the time it would take to implement processes and systems to handle the new standard. “Typically, leases are owned by each department, but now you need to find and centralize all of those lease contracts,” said Jared Schwantz, Associate Product Manager at PowerPlan. “The more leases an organization identifies, the less Excel will suffice for management. So, a big part of compliance is utilizing technology to create a centralized process for all of the leases across the organization, thereby helping streamline the adoption strategy and avoid audit risks.”
An additional challenge private companies will face is increased audit scrutiny, as regulators will be a year ahead in experience when it comes to reviewing their financial statements. “Since auditors have been working with the new standards longer, they will be more stringent when evaluating the private company leases,” added Schwantz.
To help with the tracking, accounting and auditing of leases, organizations have turned to integrated software solutions. These enable organizations to analyze different adoption scenarios for the new lease accounting standards, manage full lease lifecycles, and automate processes now and down the road.
For more resources on how organizations can overcome challenges during the compliance process, please visit: https://powerplan.com/solutions/lease-accounting-suite.
PowerPlan software provides financial insight into how complex rules and regulations impact your organization – empowering you to make credible decisions that improve overall corporate performance. The integrated solution provides complete visibility starting with forecasting and monitoring to scenario planning and analytics while maintaining financial compliance. For more information, email firstname.lastname@example.org or visit www.powerplan.com .
For more information, contact:
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Følg saker fra GlobeNewswire
Registrer deg med din epostadresse under for å få de nyeste sakene fra GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra GlobeNewswire
Standard Lithium Announces Closing of $11.4 Million Bought Deal Including Partial Exercise of Over-Allotment Option21.3.2019 14:00:00 CET | Pressemelding
VANCOUVER, British Columbia, March 21, 2019 (GLOBE NEWSWIRE) -- Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (TSXV: SLL) (OTCQX: STLHF) (FRA: S5L) is pleased to announce that it has closed its previously announced bought deal offering (the “Offering”), including the partial exercise of the over-allotment option. A total of 11,390,500 units (the “Units”) of the Company were issued at a price of $1.00 per Unit for gross proceeds of $11,390,500. Each Unit is comprised of one common share and one-half of one common share purchase warrant of the Company (each whole common share purchase warrant, a “Warrant”). Each Warrant is exercisable to acquire one common share of the Company at an exercise price of $1.30 per share, subject to adjustment in certain events, until March 21, 2022. The Units were offered and sold by way of a short form prospectus filed in each of the provinces of Canada, excluding Quebec, and offered and sold elsewhere outside of Canada on a private placement
NexOptic Appoints Rich Geruson, Former Lexmark CEO, to Board of Directors21.3.2019 14:00:00 CET | Pressemelding
VANCOUVER, British Columbia, March 21, 2019 (GLOBE NEWSWIRE) -- NexOptic Technology Corp. ("NexOptic" or the "Company") (TSX VENTURE: NXO) (OTCQX: NXOPF) (FRANKFURT: E3O1) is pleased to announce that Richard J. (Rich) Geruson has joined its Board of Directors, effective immediately. Mr. Geruson’s experience spans CEO roles at Lexmark International, Phoenix Technologies and VoiceSignal Technologies, and Senior Vice President and executive positions at Nokia, IBM, Toshiba, and McKinsey & Co. As CEO of Lexmark International, a multibillion-dollar imaging technology and solutions company with 10,000 employees, he grew printer sales faster than at any time in the preceding 10 years while simultaneously executing extensive process reengineering, transforming the business from negative EBITDA and high debt to positive multi-hundred-million-dollar EBITDA and a healthy debt profile. While CEO of Phoenix Technologies, he achieved consistently high profit year-over-year for six years straight in
Crown Bioscience to Present Latest Advancements in Preclinical and Translational Platforms at AACR Annual Meeting 201921.3.2019 13:30:00 CET | Pressemelding
15 posters present data from novel models to evaluate new cancer therapeutics SAN DIEGO, March 21, 2019 (GLOBE NEWSWIRE) -- Crown Bioscience, a global drug discovery and development services company providing translational platforms to advance oncology, inflammation, cardiovascular and metabolic disease research, announces the presentation of 15 scientific posters at the American Association for Cancer Research (AACR) Annual Meeting in Atlanta, GA from March 29 to April 3. The scientific posters highlight the latest advancements in CrownBio’s integrated oncology and immuno-oncology platforms built on the world’s largest and unique experimental model libraries, including patient-derived xenografts (PDXs), innovative humanized mouse models, GEMM, syngeneic mouse tumor homografts, PDX derived organoids (PDXO), and uniquely developed analytic methods. Featured posters will present data from novel models that enable detailed evaluation of new cancer therapeutics, including targeted cancer i
Teledyne CARIS software selected to enable major government project in Africa21.3.2019 12:00:00 CET | Pressemelding
FREDERICTON, New Brunswick, March 21, 2019 (GLOBE NEWSWIRE) -- Teledyne CARIS™ is pleased to announce they will be delivering a full software solution to the South African Navy Hydrographic Office. The solution, provided through Teledyne CARIS’ official distributor Unique Group, includes software that will be implemented as part of a larger project to be executed by Southern African Shipyards (SAS) where a new hydrographic survey vessel is being built. Three additional survey motor boats are also slated for manufacture, all of which will be equipped with HIPS and SIPS™ to process acquired hydrographic data. During the project, the shore based South African Navy Hydrographic Office will be refurbished and Bathy DataBASE™ (BDB) and Hydrographic Production Database™ (HPD) will be implemented to manage hydrographic data and produce nautical products like paper charts, ENCs and other digital products. The implementation phase is set to commence shortly, and will begin with the installation
Biogen and Eisai to Discontinue Phase 3 ENGAGE and EMERGE Trials of aducanumab in Alzheimer’s Disease21.3.2019 12:00:00 CET | Pressemelding
Independent data monitoring committee advises aducanumab unlikely to meet primary endpoints, leading to decision to discontinue the trials CAMBRIDGE, Mass., March 21, 2019 (GLOBE NEWSWIRE) -- Biogen (Nasdaq: BIIB) and Eisai, Co., Ltd. (Tokyo, Japan) today announced the decision to discontinue the global Phase 3 trials, ENGAGE and EMERGE, designed to evaluate the efficacy and safety of aducanumab in patients with mild cognitive impairment due to Alzheimer’s disease and mild Alzheimer’s disease dementia. The decision to stop the trials is based on results of a futility analysis conducted by an independent data monitoring committee, which indicated the trials were unlikely to meet their primary endpoint upon completion. The recommendation to stop the studies was not based on safety concerns. “This disappointing news confirms the complexity of treating Alzheimer’s disease and the need to further advance knowledge in neuroscience. We are incredibly grateful to all the Alzheimer’s disease pa
DATE 2019: eSilicon to present two papers on advanced floor planning techniques with the Polytechnic University of Catalonia21.3.2019 01:35:00 CET | Pressemelding
BARCELONA, Spain, March 20, 2019 (GLOBE NEWSWIRE) -- What: eSilicon, a leading provider of FinFET-class ASICs, market-specific IP platforms and advanced 2.5D packaging solutions, with the Polytechnic University of Catalonia, Barcelona, Spain are presenting two papers on advanced floor planning techniques at DATE 2019, Florence, Italy. Who: Alex Vidal-Obiols, Jordi Cortadella, Jordi Petit, Department of Computer Science, Universitat Politècnica de Catalunya. Marc Galceran-Oms, Ferran Martorell, eSilicon EMEA, Barcelona, Spain. RTL-Aware Dataflow-Driven Macro Placement This paper proposes a novel multi-level approach for macro placement of complex designs dominated by macro blocks, typically memories. Using the hierarchy tree, the netlist is divided into blocks containing macros and standard cells and their dataflow affinity is inferred considering the latency and flow width of their interaction. This information, known by the RTL designer, is often lost during physical synthesis. The la