Skip Ribbon Commands Skip to main content


In August 2010, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB), collectively the “Boards,” issued the Original Exposure Draft (OED) for the “Leases” project. A proposal requiring all leases to be capitalized (i.e., on balance sheet). Just shy of three years after issuing the OED, the Boards issued the Revised Exposure Draft (RED) in May 2013, which represented the culmination of the Boards’ deliberations after receiving 800 comment letters and holding numerous joint working group meetings, public roundtables, workshops, webcasts and other outreach activities related to the OED. While the RED addressed some of the concerns arising from the OED, it still drew an additional 600 comment letters voicing continued concerns over its complexity and burdensome requirements.

Now, two years after issuing the RED and five years after issuing the OED, the Boards are targeting year-end 2015 for issuance of the new standard. While no formal announcement has been made relative to the effective date of the new standard, it is likely going to be 2018 for public companies and 2019 for non-public companies. As this new standard will have a significant impact on companies who follow U.S. GAAP or IFRS, we encourage you to review the most recent update by CBRE’s Task Force on Lease Accounting to understand in greater detail the requirements, nuances and financial implications of the Leases standard as currently proposed.

As has been the case for five years now, CBRE’s Task Force will continue to keep you posted as this epic project progresses towards the finish line.




Additional Information:

CBRE submits comment letters to the FASB/IASB in response to the Original and Revised Exposure Drafts:

If you would like to review CBRE's 2013 Comment Letter, click on the following:

If you would like to review CBRE's 2010 Comment Letter, click on the following:

September 2014 To Converge or Not to Converge...That is the Question!
March 2014 Lease Accounting Update:  Let The Redeliberations Begin!
June 2013​ CBRE Global Viewpoint White Paper
June 2013​ CBRE Global Viewpoint Whitepaper FAQ’s
June 2013​ Joint Webcast with PwC Addressing Proposed Changes to Lease Accounting
June 2013​ ​Revised Exposure ​Draft on Lease Accounting Issued: Back on the Front Burner
May 2013​ Revi​sed Exposure Draft on Lease Accounting Issued:  Here we go again!
March 2013 Lease Accounting update:  Back to the Front Burner?​
November 2012 Another Delay for the Lease A​ccounting Project​
July 2012​ Accounting Boards Agree to Compromise.​
April 2012 Accounting Boards at Odds = More Delays!​
November 2011​ Revised Proposal Delayed, Lessors Catch a Break and
Lessees May Now Argue for Same.​
July 2011 FASB/IASB Will Solicit Additional Comments on the Revised
Lease Accounting Proposal​
June 2011 The Accounting Boards Keep Moving the Target.  FASB and IASB
Make Another Change.​
April 2011 Comments heard loud and clear - Boards considering revisions.​

Global Task Force

CBRE's Global Task Force on Lease Accounting is comprised of 14 professionals from around the world representing various disciplines and experience.​

Jeff Beatty

Senior Managi​ng Director

Financial Consulting Group
Phoenix, Arizona
+1 602 7355608

Judy Kinney

Senior Compliance Controller

Client Accounting Services
Minneapolis, Minnesota
+1 952 6562850

​Robin E. Ciskowski

Senior Financial Manager

Portfolio Services, GCS
Memphis, Tennessee
+1 901 6204032

​Mike Nelson

senior managing director

CBRE Consulting
Los Angeles, California
+1 213 6133214

​C. Xavier Menendez

Global Director

GCS Technology Solutions
South Bay, California
+1 310 3634927

​Jennifer Pazzia

vice president

Global Financial Reporting
El Segundo, California
+1 310 6065036

Jeff Shell

Executive vice president

Corporate Capital Markets
Grosse Pointe, Michigan
+1 313 4172100

​Kyle Redfearn

Managing director

Valuation & Advisory Services
Dallas, Texas
+1 214 9795686

​Amie D. Sweeney

vice president

Capital Markets
Grosse Pointe, Michigan
+1 313 4172100

Andrew Steinberg

senior manager

Global Financial Reporting
El Segundo, California
+1 310 60650470

​Nick Tansey

senior vice president

Global Corporate Services
Memphis, Tennessee
+1 901 6203100




In July 2015, CBRE’s Task Force on Lease Accounting published an update entitled "Is That The Finish Line…or Is It A Mirage?", which provides insight into the latest developments from the FASB and IASB on the "Leases" project.

What Can Companies Be Doing Now In Preparation For The New Standard
(Excerpt from CBRE’s Global Viewpoint White Paper)

As we await the final Leases standard to be issued, there are several steps companies can undertake prior to its issuance to avoid being caught flat-footed once the Boards give the green light. Please read this excerpt from CBRE’s Global Viewpoint White Paper for further insight into this topic.



Jeff​ Beatty
Senior Managing Director
Financial Consulting Group
Director, Task Force on Lease Accounting
+1 602 7355608

 Follow CBRE

Follow CBRE on Facebook Follow CBRE on Twitter Follow CBRE on LinkedIn Follow CBRE on Google+ Follow CBRE on Pinterest Follow CBRE on Instagram Follow CBRE on YouTube

CBRE Offices Global

CBRE Offices Worldwide