NRTA Attendees Looking to Achieve Compliance as FASB/IASB Deadline
AUSTIN, Texas–(BUSINESS WIRE)–#Accruent—Accruent,
the world’s leading provider of software and services that enable
organizations to shape, drive, manage and control their physical assets,
invites NRTA attendees to Booth 27 to learn more about Accruent and
Lucernex joining forces as the retail industry faces the most sweeping
changes to lease accounting and financial reporting in more than 40
The new FASB/IASB accounting standards require companies to pull all
qualifying leases onto the balance sheet as assets and liabilities,
requiring organizations to review existing processes and build new ones.
These changes have many companies reevaluating their software, looking
for a solution to report on equipment and real estate leases. Accruent
recently acquired Lucernex, including its lease accounting software – a
FASB/IASB compliant, configurable, scalable solution to manage costs,
deliver robust reporting, and increase transparency.
“We are eager to attend this year’s NRTA conference to discuss the new
FASB lease accounting regulations,” said Kimberly Williams, Director of
Lease Management at Genesco. “With the current successful implementation
of the Lucernex Lease Accounting and Administration solution, we were
able to stay on track with our compliance initiatives and look forward
to learning how fellow retailers are adopting the standards.”
The National Retail Tenants Association (NRTA), a leading source of
lease administration education for commercial office and retail real
estate lease professionals. FASB/IASB experts from Accruent and Lucernex
are ready to help attendees in analyzing their leasing
arrangements/portfolios to ensure compliance with the new FASB/IASB
lease reporting guidelines.
“A company’s leasing obligations for real estate and equipment can reach
into the millions to billions of dollars, so it’s critical that leases
are accounted for and managed properly,” said John Borgerding, CEO of
Accruent. “With Accruent’s recent acquisition of Lucernex, we’ve joined
forces to ensure customers can support compliance, mitigate risk, and
gain transparency into their entire lease portfolio.”
Accruent provides software and services that enable organizations to
shape, drive, manage and control their physical assets. Accruent’s
solutions are at work in more than 5,800 leading organizations
worldwide, including 40 of the top 100 retailers, 25 percent of the
Fortune 500, 40 percent of leading universities, all 4 of the top U.S.
wireless carriers, 55 percent of U.S. hospitals as well as leading
service providers managing more than 15 billion square feet of property.
Founded in 1995, Accruent is headquartered in Austin, Texas, with
locations across the U.S. and in Canada, China, India, Israel, Germany
and the United Kingdom. For more information, visit www.accruent.com.
Dolores Fallon, 508-490-5917