New Lease Accounting Standards to have Dramatic Impact on Businesses in Asia Pacific

JLL | January 15, 2016

JLL highlights real estate implications of new legislation SINGAPORE, 15 January 2015 – Businesses in Asia Pacific are bracing for the impact of a globally imposed new accounting standard for leased assets such as real estate and equipment. The new International Accounting Standards Board (IASB), in conjunction with the US Financial Accounting Standards Board (FASB), has confirmed that by 2019, all companies reporting under the International Financial Reporting Standards (IFRS) and US Generally Accepted Accounting Principles (US GAAP) will be required to comply with the rules. This means that as early as 2017, companies must star...