New Accounting Standards: the impact of IASB and FASB for real estate occupiers
New accounting standards that come into force in 2019 will require companies to record the value of real estate leases on their balance sheets.
This guide assesses the impact of IFRS 16 and FASB Topic 842 for real estate occupiers looking at the following key areas:
The key challenges businesses affected by IFRS 16 are facing
What preparation is required to comply
Collaboration between finance and real estate
The strategic opportunity for the real estate function
To respond both tactically and strategically to the new rules on leases, real estate will need to move away from inflexible and limited legacy technologies. The changes represent a golden opportunity for real estate to prove its value as a strategic business partner.