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Lunch & Learn – Preparing for New Lease Accounting Standards and the Impact on CRE
May 16 @ 12:00 pm - 1:00 pm
The rules for accounting for leases in a set of financial statements in accordance with GAAP (Generally Accepted Accounting Principles) will change significantly starting in 2022. The logic for making the change is that balance sheets are currently very different for businesses that own a building compared to businesses that rent a building. To enhance comparability between businesses the Financial Accounting Standards Board (FASB), who sets U.S. GAAP, has adopted new rules. Join us for a webinar to discuss the basics of the new lease standard including how you can help your clients navigate the changes related to: capitalizing operating leases, interest rate calculation, lease incentives or tenant improvement allowance, and recognition of lease expense.
Lunch & Learn led by Renee Bardenwerper & Scott Gokey
Renee Bardenwerper, Principal, specializes in providing financial statement assurance services to privately held companies, with a special focus on the real estate industry. She is a member of the CLA Affordable Housing Team and has significant experience with multifamily HUD-related projects and compliance. In addition, she works closely with clients to plan and understand tax laws and planning opportunities specific to real estate.
Technical experience includes:
Audit and assurance
HUD multifamily compliance
Closely held business and individual tax
Scott Gokey, Director, specializes in auditing commercial and service organizations, leading benefit plan audits, performing agreed-upon procedure examinations, and providing consulting services to clients. Scott is a member of CLA’s manufacturing and distribution team.
Date: May 16th
Time: noon – 12:45 pm
Zoom Registration Link: https://us06web.zoom.us/webinar/register/WN_Ysse-b3qRjWs7q6dvyCIXQ