The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) are jointly working on a replacement for the current lease accounting standards. The paper discusses how to create an action plan to prepare for this replacement.
To meet evolving regulatory mandates, companies around the world are adopting International Financial Reporting Standards (IFRS), a set of methodologies and disclosure requirements for the preparation and presentation of financial statements. Yet making the transition to IFRS is not just a rote accounting exercise.
Published By: AuditBoard
Published Date: Nov 26, 2018
When the IASB and FASB issued a joint press release on May 28, 2014 1 announcing new revenue recognition standards for revenue from contracts with customers, the adoption deadline seemed a long way off. After pushback from companies across various industries, the implementation date was extended by one year, granting companies more time to update their policies and systems to adhere to the new standards.
The Dow Chemical Company is a $60 billion enterprise composed of a worldwide network of 13 business units. Although such a decentralized business structure has competitive advantages, it can also create challenges to setting and achieving enterprise-wide goals.
Integrated Workplace Management System Systems (IWMS) is gaining industry momentum, in large part, because of the increasing focus on the importance of optimized, unified management of all assets across a complex enterprise. And that certainly includes real estate, facilities, and related assets that have historically been managed in isolated domains. In this study, leading technology analyst Gartner Inc. assesses the IWMS market to determine how the field is changing, who the leading software providers are, and how IWMS solutions have evolved in new directions to better fulfill emerging demand.
This IBM whitepaper prepares companies to face the impending complexities of the new FASB and IASB lease accounting standards. Learn how smart companies will move beyond the regulations alone and use the regulations as a springboard to transform the way they manage all their assets.
Today, the retail industry faces daunting challenges as a result
of current uncertain economic conditions, conflicting market
influences and changes to financial reporting standards. Traditional point solutions utilized in the various phases of the real estate life cycle are no longer adequate to meet these challenges. This whitepaper examines the benefits of implementing life cycle management solutions in the retail environment.
This case study examines a European manufacturer that successfully moved from an ad-hoc workplace organization to a strategic organization over a period of five years, saving $19 million in 2009 in addition to a 400 percent return on investment over five years (from 2004 - 2009).
The organization moved from a decentralized siloed group of regional facilities and real estate organizations to a fully-centralized and matrixed organization, enabling close coordination and alignment with the regional business units.