Blog

The SOFT4 team will be attending Directions EMEA between October 27 – 29 in Milan, Italy. We can’t wait to attend the face-to-face event and meet the Dynamics Partners community. We are proud to continuously contribute to this valuable community event and see how it grows! If you are also attending Directions EMEA, please come to our Booth #B03 to sayRead more

Transitions and changes always bring with them questions and uncertainties. As private companies transition to ASC 842 lease accounting, there are a lot of those questions and uncertainties that come along. But, since there already are people and professionals who have overseen or been around successful implementation of the new accounting standard, it’s beneficial toRead more

Whenever a new regulation, rule and/or law comes into effect, businesses have to make amendments and changes to the way they do certain things. With regards to leasing accounting, the name of the game is now IFRS 16. It’s the latest in lease accounting standardization and is the most recent and up-to-date set of rules,Read more

More often than not, businesses are looking for ways to optimize processes, reduce time spending, increase productivity and in doing so – bring profits way up. However, for a lot of managers, there’s always a risk to reward ratio to weigh and based on that, they make decisions on how to spend company money and/orRead more

Pretty much everyone has labelled the ASC842 as an accounting standard that’s difficult to grasp and get on terms with. All organizations face or have faced their fair share of challenges. To be frank, it’s not the easiest set of rules to get your head around, and once you and your staff do, it’s theRead more

Compliant books are very important. If your accountants aren’t able to take care of matters in a way to keep accounting compliant, your company can go into hot water. But, as with every area, accounting standards like the AASB 16 does create a heap of challenges. The all-new accounting standard, introduced in 2019, has eliminatedRead more

Transition to ASC 842 is inevitable. The only way businesses can do is to prepare for the transition and do it, if they haven’t already. Lease-related data gathering and processing are difficult, to begin with. So, it’s safe to say that new regulations won’t gain much praise from people who will be facing it onRead more

In the world of business and finance, things change rapidly. You can’t get complacent and settled because new technologies are introduced, more modern solutions are implied and older standards go as they came – quickly. The same applies to the new AASB16 accounting standard. As it mainly concerns bigger entities that have a lot ofRead more

ASC 842 deadlines for compliance have been extended to 2022. What does that mean for your business? How can you make use of the remaining time to ensure you meet the compliance deadline? To comply with the new standard’s requirements (including those related to disclosures), entities may need to implement new accounting software. If youRead more

There are many articles written about this. It’s a common issue that small, medium-sized and large enterprises face somewhere down the road. Since in business, the general ledger might be the most important document of all, it’s important to have it compatible with your financial software. If they do not work with one another, yourRead more