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Area Development - Site Selection, Facility Planning and Workforce Development

Jones Lang LaSalle Launches Website to Untangle New Lease Accounting Changes

01/18/2011
Jones Lang LaSalle has launched a new website to help corporations and business executives adapt to lease accounting changes enacted by the U.S. Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB). LeaseAccountingChanges.com will include strategies, tools, and information to break down the complex regulations.

"The new lease accounting standards will dramatically impact every organization that holds a lease, and will have important ramifications across all corporate functions, from corporate real estate and finance to technology and human resources," said Vivian Mumaw, Jones Lang LaSalle's Global Leader, Lease Administration. "Organizations around the globe are rethinking their lease administration strategies in light of these changes, and this new website will provide actionable tools and information to help them formulate robust strategies to support successful compliance."

The new rules don't go into effect until January 1, 2013, but companies must begin to prepare now to ensure that they comply with the revised standards. The high level of detail the changes demand will almost certainly put a greater administrative burden on lease management.

To read an in-depth feature article about the lease accounting changes by Mumaw and Mindy Berman of Jones Lang LaSalle, go to www.areadevelopment.com/leaseaccounting.

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