Using Software To Simplify FASB and IASB Lease Accounting Changes: Eight Critical Questions When Selecting A Solution
Susan Clarke
29 Jun, 2017
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Executive Summary
Under new accounting standards issued by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB), organizations need to bring all leases on balance sheet by capitalizing the leased assets. This new requirement, which will be compulsory in 2019, will create significant administration challenges for finance and real estate teams at large multi-site firms that can hold hundreds of property leases and thousands of equipment leases. This report reviews the role for software solutions to help organizations with applying the changes consistently, quickly and at scale. The report provides building tenants, owner-occupiers and real estate investors and asset managers with eight critical checkpoints they need to consider before investing in a software solution to help manage the upcoming changes.
Using Software To Simplify FASB And IASB Lease Accounting Changes: Eight Critical Questions When Selecting A Solution
The New Lease Accounting Standards Start This Year And Will Be Compulsory In 2019
Software Solutions Can Take The Pain Out Of Putting Leases On The Balance Sheet
Eight Critical Check Points When Selecting A Software Partner To Support New IASB and FASB Lease Accounting Standards
The New Lease Accounting Standards Start This Year And Will Be Compulsory In 2019
Software Solutions Can Take The Pain Out Of Putting Leases On The Balance Sheet
Eight Critical Check Points When Selecting A Software Partner To Support New IASB and FASB Lease Accounting Standards
Figure 1. Key Differences Between US GAAP And IFRS Lease Accounting Requirements
Qube Global Software, DXL, MCS, Financial Accounting Standards Board (FASB), Suburban Propane, Planon, Lucernex, Bashas’ Family of Stores, ProLease, Bouclair, LeaseQuery, Leverton, Drivers Jonas, FM:Systems, International Accounting Standards Board (IASB), Accruent, Fell Lease Administration, JLL, IBM, World Federation of Exchanges, Kira, Deloitte, ARCHIBUS, Trimble
About the Author
Susan Clarke
Research Director
Susan leads the Verdantix Smart Buildings practice. Her current research agenda focuses on software solutions for real estate management including integrated workplace managem…