CoStar Real Estate Manager, a division of CoStar Group, Inc., is pleased to announce that Dave Gibson has joined the company as senior vice president, Sales and Marketing. In this role, Gibson will be instrumental in communicating the value of CoStar’s industry-leading lease accounting, lease administration and lease management software solutions, along with comprehensive lease accounting compliance implementation resources.
“Smart organizations know lease accounting compliance is about much more than accounting schedules and disclosure reports,” said Gibson. “I look forward to working with CoStar on lease accounting compliance and ongoing lease management solutions that go beyond compliance. These solutions integrate into finance and accounting infrastructure, support systematic auditing and are positioned to integrate with reconciliation tools to support continuous accounting operations.”
With a deadline looming for new lease accounting standards to take effect, CoStar’s software is a recommended solution for companies that have not yet adopted ASC 842 and IFRS 16. CoStar lease management software is delivered in a software-as-a-service (SaaS) format and offers out-of-the-box functionality that includes balance sheet impact, classification tests, amortization schedules, journal entry processing and GL system integration. To ensure compliance with Sarbanes Oxley’s requirement to demonstrate effective internal controls and procedures for financial reporting, CoStar’s platform completes an SSAE 18 audit annually.
“As the Lease Accounting market matures, it’s evident that enterprises with successful implementations considered audit functionality, accounting controls, usability, advanced features, portfolio-based security, workflow, enhanced reporting, and integrations,” said Gibson. “Success with these matters is the difference between a compliant solution that operates sustainably in accounting operation.” CoStar Real Estate Manager supports every aspect of the real estate lifecycle, enabling corporations to better manage the execution of set strategies to meet company goals. With numerous successful enterprise lease accounting implementations, CoStar’s Fortune 1000 customers can monitor, control and continuously optimize corporate leasing practices.