Swiss Chalet, Milestones, Montana’s, Kelsey’s and Harvey’s Restaurants, brands of Cara Operations, have gone live on Lucernex’s True Cloud Lx Contracts solution to manage their over 700 restaurants across Canada.
Sporting Goods Retailer Replaces ProLease with Lx Contracts Lease Administration from Lucernex Technologies
Lucernex Technologies announced today that a large regional sports and outdoors chain has successfully gone live on Lucernex’s cloud-based Lx Contracts solution to manage its over 140-store portfolio of locations in 11 states.
Lucernex Technologies, the leading provider of cloud-based Store Lifecycle Management, Retail IWMS and Lease Administration solutions for Retailers, will be participating in a joint FASB discussion on the Commercial Real Estate Radio Show (CRE Radio)
Moderated by Howard Kline the host of CRE Radio the show, on August 23rd at 12 noon PST.
The underlying reason for a new lease accounting model is an effort to curb “off-balance-sheet” financing. With that said the FASB and IASB came together and selected a Right-of-Use (ROU) model to account for leases. The crux of the Exposure Draft (ED), proposed rules, is that leases are to be presented on the Balance Sheet of a company as both an Asset and a Liability.