Spacebase Blog

Learn lease management and accounting with our expert advice.

What You Need to Know About ASC 842 and IFRS 16 Compliance

For businesses managing commercial leases, compliance with accounting standards is critical to staying on the right side of regulators and ensuring accurate financial reporting. Two major standards, ASC 842 and IFRS 16, have reshaped how companies handle lease accounting, requiring lessees to recognize lease liabilities and right-of-use (ROU) assets on the balance sheet. If you’re managing leases, especially in a multi-location business, understanding and complying with these standards is essential.

What is Lease Management Software

In today’s fast-paced business world, managing multiple properties and leases can quickly become a daunting task. That’s where lease management software comes into play. Companies like Spacebase are revolutionizing how businesses handle their lease portfolios, ensuring efficiency, compliance, and scalability. But what exactly is lease management software, and how can it benefit your business? Let’s dive in.