Day: October 9, 2023

FASB Proposed Lease Accounting Changes – Impacts on Commercial Real Estate

Introduction: The Financial Accounting Standards Board (FASB) on August, 17, 2010 released their “exposure draft” requiring companies to record nearly all leases on their balance sheets as a “right to use” asset, and a corresponding “future lease payment – liability”.  What does this mean to your business in layman terms?  This proposal in essence does