While details remain open over the final standard that FASB will soon issue, many leading companies know that the new FASB standard is inevitable and are looking to use the changes to their advantage.
Get your lease management house in order
CoStar Real Estate Manager stands ready to help you manage all aspects of the lease accounting changes. We provide tailored professional services and resources to help you cope with the transition assessment and workload. We provide you with strategic support, allowing you to have a more involved role in proactively managing leases and to be in compliance with all regulatory changes.
FASB readiness service offerings
CoStar Real Estate manager delivers FASB readiness services offerings that help you get your lease management house in order now, before the new lease accounting standard is released. These service offerings are designed to help you:
- Take an intense look at your data accuracy and completeness
- Manage the massive additional workload of the transition period and beyond to ensure initial and sustained compliance with the new policies
Through a consultative review of your existing data and processes, the CoStar Real Estate Manager readiness assessment takes a comprehensive look at your ability to adopt the new standards. You will receive a full assessment report containing detailed findings of the readiness assessment and recommendations for full compliance with the new FASB standard.
Lease data audit
The CoStar Real Estate Manager lease data audit is designed to make sure your lease information is reliable and ready for the new FASB standard. We can help you identify any weaknesses in your data, and ensure you address any quality and compliance issues well before they become problematic for your financial reporting.
Lease data abstracting
The new lease accounting standard will require that companies do more with their lease data. The CoStar Real Estate Manager lease data abstracting initiative will identify any gaps in the data you currently track, then work with you to develop best practices for abstracting additional lease data required.
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