New Lease Accounting Standards: How They Affect CRE

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We've been hearing about the proposed changes in lease accounting standards for over two years now. That's how long ago I did my first show on the topic with Michael Vandergoot and Peter Morris. Prior to that, I had no idea what the hullabaloo was about. I used my preparation for the show, and the show itself, to educate myself. Then, there were lots of comments and objections to the proposed changes.

Now we seem to be at the final comment stage with FASB (Financial Accounting Standards Board), proposing new changes to go into effect in 2017.

• What are these proposed changes? Why do we, as commercial real estate professionals care? Who are these changes going to affect? How can those affected prepare for the changes? Who should be paying attention: brokers, property managers, asset managers, tenants and investors—or is this something for just CFO's and accounting types?
• If accounting changes are not going to take effect until 2017, why are we talking about them now? Hint: if the leases you are signing today are longer than 4 years, you should be thinking about this and listening to this show.
• Do these new standards apply to leases in countries other than the United States?
   
   

Featured Guests:

Michael Vandergoot, CPA
Senior Compliance Officer, BC Compliance Group, LLC

Peter Morris SCLS, SCSM, SCMD
CEO, Greenstead Group LLC

Mike Hammerslag MBA, MS, PhD(ABD), MCR, CPM
Real Estate Solutions Strategist, Lucernex