As Financial Accounting Standards Board (FASB) released new lease standards, you must get a proper lease audit to stay on track. This has complicated the lease abstraction process, which is one of the biggest reasons you need to audit your lease. If you do not have all your data and terms in place, ...
Blog tagged as common lease abstraction
Top 7 Lease Accounting Mistakes and How to Solve Them
23.08.22 09:00 AM - Comment(s)
At the end of 2021, the Financial Accounting Standard Board (FASB) rolled out new rules for lease accounting. There have been many new additions that any property manager needs to notice. A proper lease accounting process can help your real estate business keep track of financial impacts on the comp...
Common Lease Abstraction Issues and How To Solve Them
03.09.21 09:00 AM - Comment(s)
Leases are bulky but essential documents in every real estate business. These documents carry important clauses, making lease management even more difficult. Reading leases every time a tenant wants to sign them can be time-consuming. Instead, lease abstracts serve as a summary of the original docum...
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