Jones Lang LaSalle to launch industry-first website

The website is designed to help corporations worldwide navigate through the upcoming changes in global lease accounting treatment.

The new regulations being introduced by FASB and IASB will fundamentally alter the impact of leases on organizations' income statements and balance sheet, according to Jones Lang LaSalle.

In a recent Jones Lang LaSalle poll of corporate real estate executives in Asia Pacific, 70% said that they are unaware or unprepared for the changes. In addition, 42% said that their team does not have the financial knowledge it needs to manage the impacts to their real estate portfolios.

The new website will enable companies to better understand how these changes will affect them, as well as how to develop a plan for preparing for "Day 1" impact by integrating and aligning their strategic planning and portfolio strategy.

“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 David Brown, Head of Lease Administration, Asia Pacific for Jones Lang LaSalle. “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.”