Leveraging CoStar s Alliance Relationships for Lease Accounting Compliance

Transcription

1 Leveraging CoStar s Alliance Relationships for Lease Accounting Compliance Before you get started. Please view the GoToWebinar Attendee Slides to get acquainted with some features Choose your audio option: If you dial in, please make sure Telephone is selected Test your audio option. If you run into audio issues, switch your audio option When you first join, you are in listen-only mode and are automatically muted Type your question into the questions box as necessary There will also be a Q&A session at the end The control panel will collapse automatically when not in use. To keep it open, you can click the View menu and uncheck Auto-hide Control Panel. See the GoToWebinar Attendee Slides Power Point in your control panel for more detailed instructions

2 This is our last webinar of our 2017 Customer Success Series. To celebrate, we will give away one $100 Amazon gift card to one attendee. This person will be randomly chosen and contacted after the webinar.

3 Leveraging CoStar s Alliance Relationships for Lease Accounting Compliance Paul Little Channel Manager

4 Personal Bio Paul Little is a seasoned Channel and Strategic Alliance Manager with over 14 years experience. He has experience in building, launching, and growing partner programs.

5 Agenda Lease Accounting Standard Alliance Mission and Drivers Program Benefits Managing the Transition Current Alliances Services they offer How can I learn more

6 Lease Accounting Standard Issued February FASB ASC 842 & IFRS 16 Real Estate and Equipment Effective Dates Public Companies fiscal years beginning after December 15, 2018 Nonpublic Companies fiscal years beginning after December 15, 2019

7 Alliance Goals and Drivers Mission Ensure that CoStar has a growing & healthy Alliance ecosystems and be the champion for that community. Create a growing list of alliance partners that can provide Drivers Growth Launch, recruit, and retain alliances Seek strategic relationships that will drive value, increase efficiency, and reduce cost Increase product reach

8 Alliance Goals and Drivers Drivers Healthy Alliances add value to client relationship through surrounding services Increase customer satisfaction Support client needs and adoption of ASC 842 and IFRS 16 Champion Create awareness of alliances both internally and externally Develop joint business plans to educate and drive adoption Continue to educate our alliances Facilitate transactions between clients and alliances

9 Program Benefits CoStar Extend our technology solution with transition services Gain competitive advantage Ability to enter new markets Increase exposure Alliance Leverage industry leading technology to assist customers with compliance Training Gain competitive advantage Ability to enter new markets Increase exposure

10 What s in it for CoStar, Alliances, and Customers Customers Increase customer satisfaction Support business needs through alliance services Leverage top tier consulting firms Engage with alliances that understand CoStar

11 It s time for a POLL!

12 Managing The Transition: Policy Policy Data Systems Define Treatment Policy Lease types Discount rates Direct costs % of FMV % of economic life Options Re-measurement Process

13 Managing The Transition: Data Policy Data Compile Leased Portfolio Identify data gaps Update data based on business events, new leases, renewals, actual costs, etc. Systems Process

14 Managing The Transition: Systems Policy Data Systems Process Single system for Real Estate Equipment (IT, Vehicles) Perform lease classification tests ASC 840 (FAS 13) Operating & Capital ASC 842 Operating & Finance IFRS 16

15 Managing The Transition: Process Policy Project Management Define organization structure and flow Data Systems Review workflow Approve AP, AR, GL entries Process

16 It s time for another POLL!

17 Key Service Alliances Who Are Our Alliances PwC BDO RGP Arazzo Solutions Value They Provide Top 10 Accounting Firms Global Presence with Regional Focus Experienced Consulting Staff In-depth Knowledge of New Standard Trained on CoStar Expertise in Solution Implementation

18 Services They Offer Current State Assessment Gap Analysis Business Requirements Business Process Improvement Data Gathering and Lease Abstraction System Implementation Project Management Change Management Policy Implementation

19 Example Technology Alliances About BlackLine Cloud software for financial close process 1,800 Customers 130 countries CoStar/BlackLine Connector (Q1 2018) Lease accounting info sent to BlackLine for GL reconciliation

20 Where to Learn More Visit Contact Paul Little

21 Questions?

22 Thank you for attending Leveraging CoStar s Alliance Relationships for Lease Accounting Compliance To conclude. You will be ed a copy of the recording within 48 hours Remember to check out our event web page at