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California  | 
Legal Documents

Are You Ready for New Lease Accounting Rules?

Many companies are not on track to comply with new FASB and IASB real estate lease accounting standards set to take effect in December 2018 and January 2019 respectively, according to a just-released Avison Young white paper.

The report titled, “The Big Change to the Lease Accounting Standards – New rules will significantly impact a company’s enterprise value unless firms act now,” found many firms are struggling to collect the necessary lease accounting data in advance.

The paper’s author, Sean Moynihan, said a key change that brings immediate and material impact is a requirement for leases with a maximum term of more than one year to be capitalized; and most importantly, no leases will be grandfathered in.

Avison Young’s Mark E. Rose said, “This white paper emphasizes that there are many things that real estate lessees and lessors can, and should be doing today, with respect to their lease structures, business operations and financial reporting processes.”

For comments, questions or concerns, please contact Dennis Kaiser

Connect

Inside The Story

Read more at Avison Young Lease Accounting Standards White PaperConnect With Avison Young’s RoseConnect With Avison Young’s Moynihan

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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