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" ... The new lease accounting standards — ASC 842, GASB 87 and IFRS 16 — require that all leases are disclosed on a company’s balance sheet. The rules also require revision (“remeasurement”) of the lease accounting calculations anytime there are changes in lease length, added or altered options or, in some cases, changes in operating expense pass-through structures. Failing to properly capture these changes can result in a lot of remedial activity by an organization’s accounting department and can also result in higher audit fees, damage to a company’s credibility and a drain on internal resources. And because leases are so dynamic, businesses can incur additional soft-dollar costs as they prepare for their audits if they don’t have a way to properly track any and all movement across their portfolio. ... "