May 20, 2013

2013 FASB Update Quick Facts

Lucernex Real Estate Solutions Strategist, Mike Hammerslag, MS(RE), MBA, CPM® (see Mike’s management summary here) has been keeping close tabs on the upcoming FASB guideline changes for retail leases and provides this fact sheet from the new Exposure Draft (ED).
 

Focus of FASB 13 changes

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 ED proposed rules, is that leases are to be presented on the Balance Sheet of a company as both an Asset and a Liability.
(more…)

:: No Comments »

May 1, 2012

What a CFO needs to know about the new FASB 13 lease rent accounting rules

Lucernex Real Estate Solutions Strategist, Mike Hammerslag, MS(RE), MBA, CPM® (see Mike’s management summary here), discusses what CFO’s need to know about the new FASB rules.

Time, Resources, Processes, and Impact … New Systems, New Rules … More SOX!

Some people refer to the moment in time when everything is finally laid out before them by all their constituents and the pieces all finally fall into place as an “Aha Moment.” That “Moment” is closer than you think; that moment is NOW!
(more…)

:: No Comments »

September 26, 2011

NRTA – The buzz and beyond!

Director of Lucernex Client Services, Jim Short, discusses the NRTA Conference Highlights.

What a difference a year can make! The energy at the NRTA conference this year was definitely around moving forward not just treading water. With the economic picture still cloudy and unsettled, the conversation on technology spending remained conservative. BUT, a new theme emerged – it is time to act!

The conversation around “acting” focused on three areas:
(more…)

:: No Comments »

August 11, 2011

Re-Exposure confirmed, Grandfathering NOT

Lucernex Real Estate Solutions Strategist, Mike Hammerslag, discusses recent progress by FASB.

The Boards jointly confirmed on July 21-22, 2011, that they would re-expose a new and updated Leasing Standard Exposure Draft incorporating the changes and progress made since the August 2010 Exposure Draft. The new Draft, including a period of discussion, will be compiled in the 3rd quarter of 2011 and released shortly thereafter sometime in the 4th quarter of 2011. (more…)

:: 1 Comment »

July 6, 2011

Tentativeness meets Progress

Manager of Lucernex Lease Analysis products, Mike Hammerslag, discusses recent progress by FASB / IFRS.

I have blogged previously about the tentative nature of the efforts between the FASB / IFRS. To some of you this has may have appeared harsh, while to others, it likely seemed an accurate view of FASB/IFRS positioning. In my reading of changes to the FASB/IFRS position, it true that FASB and IFRS are making progress. The most recent accomplishments from the recent meetings of these two groups are:
(more…)

:: No Comments »

June 27, 2011

ICSC Recon – what were people talking about?

Lucernex Vice President of Product Management and Retail industry veteran Louise Mailloux-McBurnett talks about the buzz at this years ICSC Recon.

I recently attended the ICSC ReCON in Las Vegas. It was a wonderful opportunity to mingle with current and prospective clients as well as leaders in the real estate world. As Vice President of Product Management for Lucernex, I naturally have my ear to the ground regarding technology and tech issues and how they affect retail.

It was an exciting event this year with attendance much stronger than in recent years.
(more…)

:: No Comments »

May 6, 2011

CoreNet … “There is no opportunity like a crisis!”

Manager of Lucernex Lease Analysis products, Mike Hammerslag, discusses his recent trip to CoreNet’s annual conference.

Good Morning! I have just returned from the CoreNet Global Summit in Chicago and I am glad to report that it was a fantastic event.

Perhaps the highlight for me was none other than the Monday morning keynote speech by Greg Lindsay. Mr. Lindsay did the finest presentation on agglomeration (under the guise of changing social dynamics) that I have ever seen! And remember that compliment comes from a former academic who actually taught the topic for 10 years. (more…)

:: 1 Comment »

April 12, 2011

Lucernex Becomes Silver Sponser of NRTA

Lucernex Becomes Silver Sponser of National Retail Tenants Association

Dallas, TX (March 31, 2011) – Lucernex Technologies, an innovative developer of business intelligence software for real estate management and development, today announced that it is a silver sponsor of the National Retail Tenants Association (NRTA). The sponsorship will give Lucernex more visibility for its suite of store lifecycle management solutions within the retail real estate industry including their FASB 13 ready Lease Administration and Rent Accounting Solution. It will also enable the company’s leadership to support NRTA’s expansion as a premier education and networking resource for industry professionals.
(more…)

:: No Comments »

April 11, 2011

“Tentative” – The FASB IASB word of choice!

Manager of Lucernex Lease Analysis products, Mike Hammerslag, discusses the current state of the upcoming FASB changes.

A little more than two (2) years ago the Boards published their Discussion Paper, Leases: Preliminary Views. Fast forward to today and a known calendaring of the Final Document due date of 2Q-2011 or put another way June 30, 2011, and it seems that we are less then ninety (90) days away from knowing the outcome. So doesn’t it seem odd that so much is still “tentative.”
Now I must admit we do occasionally see that one or the other or sometimes both of the Boards “affirmed the decision in the leases Exposure Draft,” but is certainly feels like there are too many “tentative(s)” with less than 90 days until decision time! (more…)

:: 1 Comment »