Oracle JD Edwards released a new lease accounting standard that will change job functions for many leasing and financial professionals. Specifically, the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) have issued IFRS 16 and ASC 842 to make a critical change in lease management processes. According to the press release, “The effective date for public companies is starting with reporting periods beginning on or after December 15, 2018 and with private companies required reporting on or after December 15, 2019.”