Tucson and Phoenix sessions will detail how changing FASB standards on reporting commercial real estate for lease affect your business.
As a business owner with a Tucson commercial real estate lease for industrial space, office space or retail space, you may have heard about the new accounting standards that need addressing now.
The changes by the U.S. Financial Accounting Standards Board (FASB) are meant to provide more transparency in the reporting of commercial property leases by making the expense an up-front liability.
What few owners holding Tucson commercial real estate leases know is that these changes require more than just adjustments to your financial reports, starting with 2017, to prepare for them when they go into effect in 2019 for public companies and 2020 for private firms.
You’ll also need to rethink your strategy for getting and having Tucson commercial real estate for lease.
We at Commercial Real Estate Group of Tucson have written several articles about the FASB changes and how they affect your bottom line. Now we’re offering workshops that will help you change the way you negotiate and secure Phoenix and Tucson commercial real estate for lease.
We’ve partnered with accounting firm BeachFleischman PC to give you the full overview of the standards and how it will affect your business. Sponsored by the Arizona Technology Council, they will be held in Phoenix May 9 and in Tucson May 10.
Chris Lutes, CPA, CGMA will discuss the accounting details at the Phoenix session, while Nicole Maneval, CPA will talk about those issues in Tucson. Michael Coretz will talk about the effects of the accounting changes on your decisions about securing and using commercial real estate for lease.
Who Should Attend
Your accountant or accounting manager will learn how to comply with the new standards.
Your chief financial officer or finance director will discover how the changes affect your indebtedness, which can cause you to exceed the debt-to-equity ratio in your bank loan.
Your commercial real estate broker or site selection staff will get answers to questions on how renewals, subleases, sale leasebacks and expansions are affected by the changes.
Your chief operating officer and chief executive officer—and you if you hold these positions as well as owner—will appreciate the big picture of how profits and EBITDA (earnings before interest, taxes, depreciation and
amortization) can rise and fall based on the new accounting standards and adjustments to your strategy for securing commercial real estate for lease.
Before and after the workshop we can work with you to look into a customized strategy for maintaining your Phoenix or Tucson commercial real estate lease that maximizes your financial situation. Contact us for a free consultation.
Short summary of the FASB issue: New Accounting Rules 101
Commercial Real Estate Group of Tucson specializes in representing tenants and corporate users across the United States. For more information call +1-520-299-3400.