FASB Article Roundup: The Latest FASB News and How It Impacts CRE Pros

 August 11, 2021

By  Guy Gray

Are you in the know with the latest FASB-related news and how it will impact your industry? Not maintaining proper compliance can bring your world crashing down, but being aware of future changes and updates can give you an edge over the competition.

Here is a series of the latest FASB-related articles, what each means for the CRE industry and how the right commercial real estate software can help you address them.

Latest FASB, ASC 842 and IFRS 16 News

In Focus: Rise of Natural Disasters Affecting CRE Markets

With the rise in natural disasters over the past few years and as climate issues continue to be a challenge, natural disaster resiliency is top of mind for commercial property executives.

Annual Goodwill Impairment Test Might Be Eliminated

FASB said it favored doing away with the annual goodwill impairment test for public companies, signaling it provides little benefit to CRE investors.

Miami Condo Collapse Is a Tragedy, But Also a Warning

Between aging buildings and condo associations not keeping up with maintenance, more problems could be ahead. IT’s more important than ever for CRE investors and property managers to track maintenance.

Exploring Impacts of the Proposed ASU Leases (842) for Not Public Business Entities

FEI’s Professional Accounting Fellow Jazmin Gamboa spoke with LeaseQuery’s Accounting Director Sarah O’Sullivan about the FASB’s latest proposed ASU for lease accounting.

Proposed Extension for IFRS 16: How COVID-19 is Still Impacting Lease Accounting Standards

These are the considerations that CRE professionals should keep in mind to ensure they are prepared for changes that may emerge due to COVID-19.

EU Update: Wynnstay Reports Record Profits As Confidence Returns To Sector

Wynnstay reported net cash on 30 April of £4.01m on a pre-IFRS 16 basis, excluding leases, rising from £1.28m a year earlier, even after commodity inflation and a period of peak working capital use.

How CRE Software Helps You Address Changes

An investment in technology is an investment in the future. By using CRE software like Quarem, you’ll be in a much better position than your peers when it comes to being aware of market changes, interest rates spikes, occupancy rates and other valuable metrics that impact your investment decisions. 

If you’re interested in seeing how Quarem can help you stay on top of market news and insights, request a demo of our CRE software today.

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About the author 

Guy Gray

Guy Gray serves as Chief Operating Officer overseeing our technology and client services teams. He is responsible for guiding Quarem application development, networking and security, as well as new client implementations.

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