Staying apprised of the latest FASB-related news and how it affects your industry is a smart decision. After all, not maintaining proper compliance can negatively impact your future prospects. Being aware of future changes and updates, however, can give you an edge.
Here are the latest FASB/ASC 842/IFRS 16 articles of note, as well as what each means for the CRE industry and how the right CRE software can help you adjust appropriately.
Latest FASB, ASC 842 and IFRS 16 News
The U.S. accounting rule maker could issue a standard that would require companies to share more information about significant costs, chair says
After a failed attempt to secure another deadline extension, 2022 is—for real—the year private companies have to tally up all the real estate, equipment and vehicles they rent and report them on their balance sheets for the first time ever.
Late December 2021, the FASB announced that it had issued a proposed Accounting Standards Update intended to help investors and others “better consider the effect of supplier finance programs on a buyer’s working capital, liquidity, and cash flows.”
The introduction of International Financial Reporting Standard 16 ‘Leases’ (IFRS 16) on April 1, 2022 will have a significant effect on many local authority balance sheets as well as require a huge effort from council finance teams.
How to achieve and maintain compliance with ASC 842 and unlock opportunities along the way.
Public sector bodies making the transition to IFRS 16 in April can learn lessons from the private sector’s experience.
CRE Software and Industry Changes
Did you know that commercial real estate software can help you keep up with market and industry changes? An investment in technology is a wise decision these days, as more and more CRE pros are finding out. By using CRE software like Quarem, you’ll be in a much better position than your peers when it comes to being aware of market changes, interest rates spikes, occupancy rates and other valuable metrics that affect your investment decisions.
If you’re interested in seeing how Quarem can help you stay on top of market news and insights, request a demo of our CRE software today.