IRVINE, Calif.–(BUSINESS WIRE)–RGP, a arch all-around consulting and able casework firm, and CoStar Absolute Acreage Manager (“CoStar”), a analysis of CoStar Group, Inc. and a arch charter administration software provider, today appear a cardinal accord beneath which RGP and CoStar will aggregation to accommodate companies with an end-to-end band-aid to accommodated the looming deadlines for acquiescence with new charter accounting standards accomplished in 2016 by the U.S. Banking Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB).
The new standards crave companies to admit about all obligations for absolute estate, accessories and added busy assets on their antithesis sheets. U.S. Securities and Exchange Commission abstracts estimates that Fortune 500 companies currently accept added than $700 billion in asymmetric area charter obligations that will be afflicted by the new standards, while the IASB projects new antithesis area additions common may be in antithesis of $3 trillion.
This cogent about-face in accounting action may accept extensive impacts in abounding areas such as policies, procedures, systems, debt covenants and banking ratios. It will affect businesses in abundant industries heavily invested in charter arrangements, abnormally those in customer products, restaurant, retail, banking services, manufacturing/distribution, utilities and oil & gas. By proactively advancing for the new standards, businesses can anticipate banking advertisement issues, access centralized controls and alike accept a acknowledgment on their investment.
“RGP is aflame to accomplice with CoStar to accommodate our audience with a abounding ASC 842 or IFRS 16 solution,” said Shauna Watson, RGP’s All-around Managing Director of Finance and Accounting. “From appraisal to abstracts gathering, to action architecture to implementation, our accomplished consultants can advice companies accede with these new accounting standards finer and efficiently.”
CoStar’s accurate charter accounting software provides the complete functionality bare to administer and address on absolute estate, accessories and added busy assets. It is delivered in a software-as-a-service (SaaS) architecture and offers out-of-the-box functionality that includes antithesis area impact, allocation tests, acquittal schedules, account access processing and GL arrangement integration. To ensure acquiescence with Sarbanes Oxley’s claim to authenticate able centralized controls and procedures for banking reporting, CoStar’s belvedere completes an SSAE 16 analysis annually.
“We’re admiring to adjust our accurate charter accounting solutions with RGP,” said Andy Thomas, President of CoStar Absolute Acreage Manager. “The accumulated of our Charter Manager artefact accommodation and the trusted admiral of RGP action audience a accurate accumulated for arrest acquiescence with the new charter accounting standards.”
For added advice on the new charter accounting standards, go to www.rgp.com.
RGP is a bunch business consulting close that helps leaders assassinate centralized initiatives. Partnering with business leaders, we drive centralized change beyond all genitalia of a all-around action – accounting; finance; governance, accident and acquiescence management; accumulated advisory, cardinal communications and restructuring; advice management; animal capital; accumulation alternation management; and acknowledged and regulatory.
RGP was founded in 1996 aural a Big Four accounting firm. Today, RGP is a accessory of a about traded company, Resources Connection, Inc. (NASDAQ: RECN), with over 3,300 professionals, annually confined over 1,800 audience about the apple from 67 convenance offices.
Headquartered in Irvine, California, RGP has served 87 of the Fortune 100 companies. Appointment www.rgp.com/global-offices to acquisition the appointment aing you. (RECN-M)
About CoStar Group
CoStar Group, Inc. (NASDAQ: CSGP) is the arch provider of bartering absolute acreage information, analytics and online marketplaces. Founded in 1987, CoStar conducts expansive, advancing analysis to aftermath and advance the better and best absolute database of bartering absolute acreage information. Our accommodation of online casework enables audience to analyze, adapt and accretion incomparable acumen on bartering acreage values, bazaar altitude and accepted availabilities. LoopNet is the best heavily trafficked bartering absolute acreage exchange online with added than 10 actor registered members. Apartments.com, ApartmentFinder.com and ApartmentHomeLiving.com anatomy the arch online accommodation ability for renters gluttonous abundant accommodation homes and accommodate acreage managers and owners a accurate belvedere for business their properties. Through an absolute affiliation with Move, a accessory of News Corporation, Apartments.com is the absolute provider of accommodation association listings beyond Move’s ancestors of websites, which accommodate realtor.com®, doorsteps.com and move.com. CoStar Group’s websites admiring an boilerplate of about 25 actor different account visitors in accumulated in the third division of 2016. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe and Canada with a agents of about 2,800 worldwide, including the industry’s better able analysis organization. For added information, appointment www.costargroup.com.
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