SAP Real Estate Management: New Leasing Standards at a Glance
After the U.S. Securities and Exchange Commission (SEC) discovered a loophole with operating leases, they asked the Financial Accounting Standards Board (FASB) to work with the International Accounting Standards Board (IASB) to develop a new standard that would provide transparency on companies’ lease assets and liabilities.
Started as a joint project, IASB and FASB each published their own standards. These new standards are mandatory for every organization that leases real property or equipment. See our New Leasing Standards at a Glance guide to learn more about these new standards and how they affect you.