International Facility Management Association (IFMA) and KBA Host Joint Webinar

Tomorrow’s webinar will explore the underlying theory behind the proposed FASB changes.  IFMA, a professional association for facility management professionals,  and KBA Lease Services, a nationwide lease auditing firm, will outline the potential ramifications and offer advice as to best prepare for the impact.

Topics Include:

  1. Why the Changes Were Proposed
  2. What Will Change
  3. Impact on Lease vs. Buy Decisions
  4. Treatment of Gross vs. Net Leases
  5. The Most Current Updates/Deliberations/Alterations Made to the Original Exposure Draft
  6. How to Start Preparing Now

Last August, the Financial Accounting Standards Board (FASB) sent shockwaves through the commercial real estate world when they proposed significant changes to how leases must be recorded in a company’s financial statements.  Although the Boards continue to deliberate, every major company (any company that follows GAAP) will be impacted by the upcoming changes.  At a minimum, substantial attention and manpower will be required to comply with the new rules.  But the changes could also impact such decisions as whether to lease or buy or how buildings will be serviced.