Lease Accounting Task Force - Cushman & Wakefield

Lease Accounting Task Force

Lease Accounting Changes: Are You Ready? 

The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have published new lease accounting standards designed to provide greater balance sheet transparency of leasing activities for organizations that issue financial statements in accordance with generally accepted accounting principles (GAAP). Non-U.S. based organizations are required to meet revised International Financial Reporting Standards (IFRS).

The extensive volume and reach of lease agreements means that the transition will be exhaustive for many companies, requiring significant planning, resources and effort. The impact on real estate is particularly acute - it's estimated the majority of new assets and liabilities recorded on the balance sheets of lessees will be related to commercial real estate.

Cushman & Wakefield's Lease Accounting Task Force (LATF) is ready to help! 


Additional Resources

Cushman & Wakefield Lease Accounting Changes
New FASB lease accounting changes are here. This paper briefly highlights the most essential elements of the new lease accounting changes. Download 

Cushman & Wakefield Lease Accounting - EMEA Perspective  
This paper, authored by members of our Global Occupier Services team in the UK, covers the most essential elements of the lease accounting changes with a focus on EMEA. Download

A New Day 
The long road to issue a new lease standard has finally come to an end. But as this process closes, a different path begins. The journey moves out of the meeting rooms and deliberations of FASB and IASB - and into the boardrooms of companies around the globe. The real work begins now as the New Rules identify an arduous trek to implementation and updated operating processes. Download

Topic 1 - A Lease By Any Other Name 
FASB's new lease standard Topic 842 issued on February 25, 2016 includes a new lease definition that converges with IASB's IFRS 16 issued earlier. Both standards focus on an identified asset and the right to control the use of that asset. Download

Topic 2 - Multinational Brief 
The divergence between FASB's Topic 842 and IASB's IFRS 16 is of consequence to multinational corporations that have U.S. lease agreements that are in compliance with FASB but also have reporting responsibilities in different countries where IASB compliance is mandatory. Download

Topic 3 - New Logistics of Lease Reporting 
New Standards for financial reporting of lease obligations Topic 842 (FASB) and IFRS (IASB) were issued in early 2016. These new rules will triggers widespread global change in transaction and portfolio management of commercial real estate leases. This paper explores considerations of industrial lease standards. Download

Topic 4 - New Lease Standard 
The new FASB Financial Reporting Standard for leases was issued in Q1 of 2016. This topic paper takes a brief look at the arithmetic for full service operating leases under the proposed rules. Download