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Lease accounting compliance: An opportunity at work
Corporate Real Estate Journal,
6
(3),
205-219
(2017)
Abstract
The paper 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: it may well impact decision-making procedures as well as lease administration processes themselves. Consequence of this is that toolsets used for lease administration will have to be (re)assessed in light of the new requirements imposed. Next to discussing work packages involved, the authors identify value-adding potentials that projects for lease accounting compliance can provide for real estate professionals.
Keywords: FASB; IFRS; lease accounting; compliance; liability; balance sheet
The full article is available to subscribers to the journal.
Author's Biography
David Stillebroer is responsible for product strategy and the product management team at Planon Software, a leading provider of technology solutions for facility management and real estate. He has a background in hard services and soft services and has been real estate portfolio manager, software implementer and product manager. David has been part-time lecturer in real estate management at Rotterdam University for a number of years.
Erik Jaspers has over 30 years’ experience in IT and has held various positions in project and information management for multinational companies including ATOS (Origin) and Philips. For the past 17 years he has been working with Planon, a leading IWMS/CAFM1 software vendor, in leadership positions concerning the development of their software solutions. His current focus is specifically around innovation, product strategy and investment planning. He contributed to a prize-winning scientific publication on agile product management (2009) and to IFMA publications ‘Work on the Move’ (2011), ‘Work on the Move 2’ (2016) and ‘Technology for Facility Managers’ (2012). He was editor of Planon’s publication ‘A Quest for Excellence’ (2015) and has written articles on technology for RE and FM magazines. He is a regular speaker at international conferences on a wide array of IT-related topics around real estate management and facilities management. He is member of the IFMA Foundation board of trustees, chair of their knowledge management taskforce, member of the IFMA Research Committee and part of the ‘Workplace Evolutionaries’ leadership team.
