This article discusses the changes that the new IFRS and FASB lease accounting standards will impose on real estate lease practices.
Their implications encompass more than merely reporting—effects from the new standards will impact decision-making procedures as well as lease administration processes themselves. One major consequence will be the need for a re-evaluation of the toolsets used for lease administration in light of the new requirements imposed. In addition to discussing work packages involved, the authors of this article also identify value-adding potentials that projects for lease accounting compliance can provide for real estate professionals.
This article originally ran in the Corporate Real Estate Journal, a professional journal for corporate real estate executives.
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