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RGP and CoStar Group alliance tackles lease accounting standards

GRC Announcements | October 5, 2017

RGP, a global consulting and professional services firm, and CoStar Real Estate Manager, a division of CoStar Group, and a lease management software provider, announced a strategic alliance to provide companies with an end-to-end solution to meet the looming deadlines for compliance with new lease accounting standards.

The new standards, finalized last year by the U.S. Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB), require companies to recognize practically all obligations for real estate, equipment and other leased assets on their balance sheets. U.S. Securities and Exchange Commission data estimates that Fortune 500 companies currently have more than $700 billion in off-balance sheet lease obligations that will be affected by the new...

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