Newport Beach - The New Lease Accounting: Changes in FASB for Tenants - The Pacific Club

A new paradigm for lease accounting is about to be released, and it will impact every business whether public or private. In June 2010, the U.S. Financial Accounting Standards Board (FASB) and its counterpart, the International Accounting Standards Board (IASB), issued an Exposure Draft of lease accounting changes. The proposals will be dramatic and, in essence, will likely require all leases to be presented on the balance sheet of both lessees and lessors, with only a few exceptions available. Accounting for all leases of real estate and equipment, existing and new, will be changed.

As the reality of new lease accounting rules approaches, most real estate professionals have gained a greater understanding of the changes. Many, however, still face the daunting challenge of preparing their existing lease portfolio and reassessing the criteria for structuring effective leases going forward.  Our industry experts will provide an overview of the new rules and what it will mean for your company going forward.

Panelists:
Mark Gibson, Principal & Leader/Construction & Real Estate Advisory Services, Ernst & Young
Kevin Hayes, Senior Vice President - Southern California, Lincoln Property Company
Josh Leonard, Partner, Deloitte Financial Advisory Services LLP

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