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CRE and finance roles in the impact of lease accounting changes : Whose baby is it?
Corporate Real Estate Journal,
7
(2),
161-169
(2017)
Abstract
The dust has finally settled on the long-awaited changes in how companies must account for leases in their financial statements in a bid to improve financial transparency. This paper explores how the corporate real estate community needs to engage with its internal finance teams as well as prepare the real estate portfolio to be ready for transition when the changes go live in 2019. While it is no surprise that finance will take on the heavy lifting to comply with the new standard, corporate real estate professionals have a critical role to play as well and inaction is not an option.
Keywords: lease accounting changes; preparation; financial reporting; corporate real estate; leases
The full article is available to subscribers to the journal.
Author's Biography
Sylvia Koh leads the consulting business for JLL in Asia Pacific. She and her team of consultants assist clients in areas such as location advisory, accommodation strategy, complex financial modelling, workplace strategy and, most recently, preparing for lease accounting changes. She has a background in finance and accountancy and has spent many years in various finance functions. She is a trained 6 sigma black belt, specialising in finance process improvement. She is also the lead faculty for Corenet Global’s CRE finance classes in Asia Pacific.
Ming Lee Chua has more than 25 years’ real estate experience globally and in Asia Pacific. She has worked in both property consultancy firms and corporate real estate (CRE) organisations. During her time in Jones Lang LaSalle, she assisted corporate clients in their portfolio planning, strategy and real estate transactions. Some of her clients included P&G, Cisco Systems and DBS Bank. She joined Unilever as their Global RE director for six years, responsible for their strategy and planning, transactions and data and analytics globally. She recently joined Cushman & Wakefield as Head of Account Management & Service Lines in the APAC Global Occupier Services. She is the lead faculty in Corenet for enterprise alignment.
