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Real Estate Industry Perspectives on Lease Accounting

CALL   Date: April 7, 2011   Location: Webinar

  Seminar

Category   Electives [E]
Attendance Hours   2.0
Current Price   $ 15.00 AI
$ 75.00 Full



  Location

Name   Webinar



  Sponsor / Contact

   Appraisal Institute
Email   webinars@appraisalinstitute.org
Phone   (312) 335-4473

  Description

Valuation for Financial Reporting Series Overview Accounting standards setters and policymakers around the globe are in the midst of broad-reaching convergence projects which may result in expanded use of “fair value” accounting. Such a change would likely have a dramatic impact on financial reporting of real estate assets and investments. Here, the use of appraisal professionals can be used to supplement and enhance investor confidence with financial statements. In this 5-webinar series, participants will learn about the convergences that are underway, how these standards have already been applied in Europe and other parts of the world, and how auditors and investors will likely view the work of third party subject matter experts like appraisers. Further, the series will provide helpful tips on how small-to-medium size appraisal firms can position themselves to compete for this new line of business. Webinar #1: Real Estate Industry Perspectives on Lease Accounting FASB and IASB are engaged in a “Lease Accounting” project whereby lessors and lessees would be required to report leases (including real estate) on financial statements. Concerns have been expressed by lessors and lessees of commercial real estate regarding the cost of compliance and the necessity of the proposal. Real estate associations have been outspoken about the potential effect on commercial real estate lease-buy decisions, which could force the development of shorter term leases and have an effect on the value of real estate. Others have stated a preference for fair value arrangements found under International Financial Reporting Standards and have called on FASB to adopt a comparable standard to IAS 40, Investment Property, which provides a fair value option. This webinar will deliver real estate industry perspectives on the proposed lease accounting rule and alternatives that may garner support. Participants will understand: - How the proposed Lease Accounting rule is structured - Pension fund, institutional investor and real estate investment trust views on lease accounting - Investor views on fair value for real estate - Value added services that can be provided by appraisers for lessors and lessees complying with the lease accounting and fair value for investment property Time: 10:00 am PT, 11:00 MT, 12:00 CT, 1:00 pm ET Duration: 2 hours Price for this webinar: $15 for members, $75 for nonmembers CE Credit: Appraisal Institute members who attend will receive 2 hours of Appraisal Institute continuing education credit. Completion certificates will not be sent. This is not approved for state continuing education credit. Meet the Speakers - Ted Anglyn, MAI, CCIM, is President of Anglyn Property Advisors, LLC, a capital and valuation advisory firm focusing on Latin America and the Southeast. From 2007 to 2009, Ted was the Director of Acquisitions for a $275 million dollar fund targeting retail investments in the southeast. Prior to that, Ted had a 17-year career with New York Life Insurance Company in lending and valuation. Ted has published five real estate books for The Appraisal Institute and is frequently called upon to teach seminars and make presentations to various groups including the FFIEC, the Federal Reserve and appraisal chapters. He is recognized for numerous articles written for The Appraisal Journal and Taxation for Accountants. - Neal Armstrong, CPA, a Director at RREEF, is co-head of its North American Fund Finance division which is responsible for overseeing the accounting and financial reporting for a number of funds and separate accounts with real estate and mezzanine debt investments in excess of $16 billion. Prior to joining RREEF, Mr. Armstrong was a senior manager in KPMG LLP’s real estate audit practice. Mr. Armstrong is a CPA and received a B.S. in accounting from Valparaiso University. He is the co-chair of the Accounting Committee of the National Council of Real Estate Investment Fiduciaries (NCREIF) and is a member of the Real Estate Information Standards (REIS) Council. - Sean Laber, CPA, Partner, Frazier & Deeter, LLC - Bio coming soon. - George Yungmann, CPA, currently serves as Sr. VP, Financial Standards of the National Association of Real Estate Investment Trusts (NAREIT). In this role, George is responsible for managing the NAREIT processes toward evaluating accounting and reporting standards proposals issued by the Financial Accounting Standards Board (FASB), the International Accounting Standards Board (IASB) and the U.S. Securities and Exchange Commission (SEC). George currently serves on the FASB/IASB International Leases Working Group that provides advice and input to the Boards and staff with respect to lease transactions and proposed accounting principles. In addition, he represents NAREIT in the Real Estate Securitization Alliance - a global coalition of real estate organizations that is focused on a wide range of global industry initiatives. SAVE on subsequent webinars! Receive 10% off any webinars in this series! After this webinar concludes, participants will receive a promo code for 10% off subsequent webinars in this series, including: - Investment Property Accounting Standards (June 6) - Appraisal Practice for Valuation for Financial Reporting (August 9) - Fair Value for Public Companies: Scrutiny by Investors and Auditors (October 11) - FIN 52 and GASB 34: Fair Value for Public Agencies and Endowments in Real Estate (December 7)

  Disclaimer

* Up to program start date, refund in full.

  Additional Information

After you register, you will receive a "Connection Information" e-mail that includes computer and audio connection details for this live online webinar.