Share this
Lease Accounting Ad Hoc Reports with CoStar Real Estate Manager
by Matt Waters, CPA on July 26, 2021
Unlike common types of accounting reports—such as roll forward and disclosure reports—lease accounting ad hoc reports may be requested just one time to answer a specific question regarding ASC 842 compliance. These reports are often requested by executives and auditors for details on specific leases.
Lease Accounting Ad Hoc Report Examples
For example, an executive may want to know how many properties have lease obligations whose present value is worth more than $500,000 and have termination options coming up within the next year. In other cases, there may be a need to create an ad hoc report template that can be stored and used regularly. For example, business leaders may want to receive a report each month that lists all leases with a present value lease liability over $200,000.
Some systems simply don’t have functionality to produce lease accounting ad hoc reports, so users can’t provide details on specific lease data fields. When auditors need such a report, accountants must run a standard report, export it to a spreadsheet, and then manually remove all other irrelevant records and fields. That process is time consuming, and accountants run the risk of giving the auditors too much or not enough information, lengthening the audit by creating more auditor questions.
Lease Accounting Ad Hoc Reports with CoStar Real Estate Manager
CoStar lease accounting software allows users to drag-and-drop any lease data field into a report, providing only the specific information requested by auditors. Once an ad hoc report is created, it can be saved as a template, updated on a set schedule, shared with others and automatically emailed to selected individuals or groups. CoStar offers this functionality for all users. There is no need for anyone to be an administrator or power-user to have this functionality.
Lease Accounting Software from CoStar Real Estate Manager
If your existing lease accounting software is missing these essential, time-saving functions – or if you’re looking to implement the company’s first solution – get the system that can do all this and more. CoStar.
CoStar is trusted and recommended by more leading accounting firms and service providers to manage and report on real estate and equipment for compliance with ASC 842 and IFRS 16 guidance. If your lease data is already in a database, upgrading is easier than you’d expect.
Share this
- ASC 842 (78)
- Lease Accounting Software (62)
- Accounting Teams (39)
- Lease Administration Software (19)
- Retail Tenants (14)
- Commercial Real Estate (11)
- Lease Management (10)
- Market Data and Analytics (7)
- Real Estate Teams (6)
- ESG (5)
- Success Stories (5)
- News and Media Coverage (3)
- Transaction Management Software (2)
- Customer Success (1)
- Office Tenants (1)
- September 2024 (2)
- August 2024 (5)
- July 2024 (3)
- June 2024 (3)
- May 2024 (4)
- April 2024 (1)
- February 2024 (1)
- December 2023 (4)
- November 2023 (6)
- October 2023 (4)
- September 2023 (2)
- August 2023 (2)
- July 2023 (3)
- May 2023 (2)
- March 2023 (1)
- February 2023 (3)
- December 2022 (3)
- November 2022 (4)
- October 2022 (4)
- September 2022 (1)
- August 2022 (4)
- June 2022 (1)
- May 2022 (4)
- April 2022 (8)
- March 2022 (3)
- February 2022 (1)
- October 2021 (2)
- September 2021 (1)
- August 2021 (15)
- July 2021 (3)
- June 2021 (1)
- May 2021 (1)
- April 2021 (3)
- March 2021 (1)
- January 2021 (1)
- December 2020 (3)
- November 2020 (1)
- October 2020 (2)
- September 2020 (2)
- August 2020 (3)
- July 2020 (2)
- June 2020 (3)
- May 2020 (1)
- April 2020 (1)
- March 2020 (1)
- February 2020 (1)
- December 2019 (1)
- October 2019 (1)
- September 2019 (2)
- August 2019 (3)
- July 2019 (2)
- April 2019 (69)
- October 2018 (1)
- August 2018 (1)
- July 2018 (1)
- June 2018 (1)
- May 2018 (1)
- April 2018 (2)
- March 2018 (3)
- February 2018 (2)
- December 2017 (1)
- August 2017 (3)
- June 2017 (2)
- May 2017 (2)
- April 2017 (1)
- March 2017 (2)
- January 2017 (2)
- November 2016 (2)
- July 2016 (1)
- June 2016 (1)
- July 2015 (1)
- March 2015 (1)
- June 2014 (1)
- April 2014 (11)
- October 2011 (1)
You May Also Like
These Related Stories