LeaseAccelerator

LeaseAccelerator News Room Archive and Profile

LeaseAccelerator is the industry’s first software application developed specifically for Equipment Lease Management. Fortune 500 companies lease much of the equipment they use to run their business. By equipment we mean office equipment (furniture, photocopiers), industrial equipment (forklifts, machinery), transportation equipment (trucks, planes) and IT equipment (laptops, servers).

We believe that equipment leasing is THE most poorly managed financial process in Fortune 500 companies. The average Fortune 500 company has between $100M and $1B of equipment leases, which represent between 1000 and 10,000 assets. No other process with such high dollar values has so little governance, process and control. At most companies if the CFO wanted a report of all the equipment being leased across the business (including location and identification) – it simply cannot be done – at least with any reasonable level of confidence.

But this is all coming to an end. Recently, a new set of accounting standards have been introduced by the US (FASB) and International (IFRS) accounting boards specifically for leasing. With these new standards, leases move from an often overlooked footnote in a company’s annual report to front and center on the balance sheet. These new standards are going to require public companies to get their equipment leases in order because they will need more detail.

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Press Releases from LeaseAccelerator :

LeaseAccelerator CEO to Speak at FEI New Lease Accounting Standards Conference

LeaseAccelerator

IRVINE, Texas, June 14, 2016 (SEND2PRESS NEWSWIRE) — LeaseAccelerator announced today that its CEO, Michael Keeler, will participate in a panel at the upcoming Financial Executives International (FEI) New Lease Accounting Standard Conference. Issued earlier this year, the new standards, FASB ASU 2016-02 (or Topic 842) for US GAAP and IFRS 16, will require companies to track virtually all real estate, equipment leases, and leases embedded in service agreements as assets and liabilities on their balance sheets starting as early as 2019.

LeaseAccelerator and Riveron Consulting to Co-Present in ClearLaw Institute Webinar on New Lease Accounting Standards

LeaseAccelerator

GREAT FALLS, Va. and WASHINGTON, D.C., June 6, 2016 (SEND2PRESS NEWSWIRE) — LeaseAccelerator and Riveron Consulting announced today that they will be co-presenting on a forthcoming ClearLaw Institute Webinar about the new lease accounting standards. Issued earlier this year, the new standards, FASB ASU 2016-02 (or Topic 842) for US GAAP and IFRS 16, will require companies to track virtually all real estate and equipment leases as assets and liabilities on their balance sheets starting as early as 2019.

New Study Finds Most Companies Lack Systems and Processes to Comply with New Lease Accounting Standards

LeaseAccelerator

GREAT FALLS, Va., May 11, 2016 (SEND2PRESS NEWSWIRE) — LeaseAccelerator, the leader in Equipment Lease Management software, announced the results of a market readiness survey for the new lease accounting standards. The first research study to be completed since the Financial Accounting Standards Board (FASB) announced ASU 2016-02 (ASC 842), surveyed financial professionals about their state of readiness for the new leasing standards.

LeaseAccelerator Announces FASB ASC 842 and IFRS 16 Compliant Accounting Solution for Equipment Leases

LeaseAccelerator

GREAT FALLS, Va., April 18, 2016 (SEND2PRESS NEWSWIRE) — LeaseAccelerator, the leader in Equipment Lease Management software, today announced a new release featuring updated functionality to support the new lease accounting standards introduced by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB). With support for FASB ASC 842 and IFRS 16, LeaseAccelerator customers can now confidently comply with the financial reporting requirements of the U.S. Securities and Exchange Commission (SEC) and other international regulators in time for the 2019 implementation deadlines.

New Study Identifies Companies Most Impacted by New FASB and IFRS Lease Accounting Rules

LeaseAccelerator

GREAT FALLS, Va., Jan. 26, 2016 (SEND2PRESS NEWSWIRE) — LeaseAccelerator, the leader in Equipment Lease Management software, published today a report listing the off-balance sheet lease obligations of the 500 largest U.S. public companies. The report, entitled “Who is Most Impacted by the New Lease Accounting Standards?” aims to provide greater awareness of the potential impact of the new lease accounting standards.

LeaseAccelerator to Host Webinar on Spend Management for Equipment Leases

LeaseAccelerator

GREAT FALLS, Va., Jan. 19, 2016 (SEND2PRESS NEWSWIRE) — LeaseAccelerator, the leader in Equipment Lease Management Software, announced today that it will host a webinar on Spend Management for Equipment Leases. Drawing upon case studies from Fortune 500 companies, LeaseAccelerator will outline how savings of 6-8 percent can be achieved on leases in categories ranging from transportation and material handling to IT and office equipment.

LeaseAccelerator to Host Educational Webinar on New Lease Accounting Standards

LeaseAccelerator

GREAT FALLS, Va., Nov. 5, 2015 (SEND2PRESS NEWSWIRE) — LeaseAccelerator, the leader in Equipment Lease Management Software, announced today that it will be hosting a webinar on the forthcoming Lease Accounting Standard changes. The company’s experts have been closely monitoring the latest proposals and comments on both FASB 842 and IFRS 16.

LeaseAccelerator Hires IT Leasing Expert Tim Shockley to Lead Sales Force

LeaseAccelerator

GREAT FALLS, Va., Nov. 4, 2015 (SEND2PRESS NEWSWIRE) — LeaseAccelerator announced today that sales leader and enterprise leasing expert Tim Shockley has joined the company as Vice President of Sales. Tim brings more than 20 years of experience leading top performing teams to provide IT and Financial solutions into Fortune 500 companies.

LeaseAccelerator Achieves SAP Certification for Integration as Powered by SAP NetWeaver

LeaseAccelerator

GREAT FALLS, Va., Sept. 15, 2015 (SEND2PRESS NEWSWIRE) — LeaseAccelerator Inc., the market-leader in Equipment Lease Management (ELM) software, today announced that its LeaseAccelerator(R) software-as-a-service (SaaS) solution has attained SAP-certification with SAP’s ERP platform as powered by the SAP NetWeaver(R) platform. LeaseAccelerator(R) has been proven to integrate with SAP(R) solutions, offering the most advanced capital lease accounting capabilities available to equipment lessees.

LeaseAccelerator Hires Enterprise SaaS Sales Expert Jay McGlynn to Scale Business

LeaseAccelerator

GREAT FALLS, Va., May 5, 2015 (SEND2PRESS NEWSWIRE) — LeaseAccelerator announced today that sales leader and go-to-market strategist Jay McGlynn has joined the company as Chief Revenue Officer. Jay brings more than 40 years of enterprise technology sales experience to a team delivering comprehensive Equipment Lease Management (ELM) solutions to Fortune 1000 companies.

LeaseAccelerator Publishes New Whitepaper on Lease Accounting Standard Changes for Lessees to Explain May 2013 FASB Exposure Draft

LeaseAccelerator

WASHINGTON, D.C., May 14, 2013 (SEND2PRESS NEWSWIRE) — LeaseAccelerator announced today that it has published a new lease accounting whitepaper for lessees that explains the new 2013 FASB Exposure Draft, which the FASB is expected to release later this week. Lessees can download it for free from LeaseAccelerator’s publishing arm. The official title is ‘How to Prepare Now for the Coming Lease Accounting Changes.’