FASB 13 Reporting
The United States Financial Accounting Standards Board statement 13 continues to change Real Estate as it is known today. In late 2010 FASB and International Accounting Standards Board (IASB) introduced a series of sweeping changes to ensure greater financial transparency to their lease, purchase, and sale processes and determinations. Other information, such as the criteria that determine and establish the difference between an operating and capital lease, elaborate on fiscal consequences as well as ownership rights, expenses and depreciation.
Many corporations use technology to ensure compliance with FASB 13 reporting. This allows corporations to automate processes for lease tracking and management, further improving analysis and reporting, and increase efficiency, reduce errors, and avoid penalties.
CFI can assist in you in getting your arms around FASB 13 compliance and make the best use of people, processes and technology to reduce and control costs and improve effectiveness while at the same time stripping away unnecessary expenditures.
