Reporting
Accurate and efficient month-end reporting hinges on the ability to categorize and manage different types of leases effectively and mapping that to your general ledger for financial reporting purposes.
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In the fast-paced world of accounting, month-end reporting is a critical process that ensures the accuracy and integrity of financial statements.
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Many technology and operational leaders will read the 2023 US Bank CFO report and say – “Cost control is a nail again and technology is the hammer. Nothing new here.” But this would be a short-sighted read and miss the opportunity to partner with the CFOs to leverage the most impactful technology trend in the past 20 years for equipment finance, AI.
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Since being issued in March 2023, Section 1071 of the Dodd-Frank Act has prompted a lot of discussion about its implications for institutions serving the equipment finance industry. In this Trail Mix installment, we’ll provide a quick overview of what you need to know about Section 1071.
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 On February 15, I shared insights with members of the American Association of Commercial Finance Brokers (AACFB) on how to “Get ahead with data.” AACFB’s Monica Harper hosted Allen Jones of Copernicus and me for a discussion regarding data-centric technologies that can help brokers improve operations, grow faster, and transform into companies with broader offerings.
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Equipment Finance is a business that feels like running on a treadmill set at twelve. And the roughly 12,500 finance brokers operating in the space are trying to help lenders keep up.
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