Accruent and Lucernex Join Forces on FASB/IASB at NRTA 2017
September 24 2017 - 9:00AM
Business Wire
NRTA Attendees Looking to Achieve Compliance as
FASB/IASB Deadline Approaches
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 years.
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.”
About Accruent
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.
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AccruentDolores Fallon, 508-490-5917