NEW LEASE ACCOUNTING IS A NIGHTMARE
NEW LEASE ACCOUNTING IS A NIGHTMARE
Presented by: Forrest Blake | Senior Vice President | SVN Commercial | 310-850-2381 | Lic # 01054174
WHAT IS HAPPENING?
Financial Accounting Standard Board (FASB) has created new guidelines on how a company will report their lease obligations. Leases beyond twelve months will be required to be moved onto the balance sheet. Firms must record all future lease payments for the term of the lease as a liability at the start of the lease. Additionally, tenants will be required to include extension options.
FASB TIME LINE
POSSIBLE TROUBLE FOR TENANTS
POSSIBLE SOLUTIONS
Over the next few months, I will continue to build on the issues and solutions to those issues. If your company has a more immediate need and have a commercial lease that expires anytime in the next 4 years, it is time to have a discussion. Feel free to contact me.
Forrest Blake | Senior Vice President
SVN | Commercial – DTLA
800 South Figueroa Street, Suite 925, Los Angeles, CA 90017
Phone 213.618.4196 | Mobile 310.850.2381
forrest.blake@svn.com | www.svn.com
CalDRE# 01054174
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