The Financial Accounting Standards Board’s latest lease proposal could have an adverse effect on the real estate industry. The Board plans to materially alter the way many businesses report leases on their financial statements, which is causing real estate stakeholders to express concerns that the proposed changes could ultimately hurt businesses, cost jobs and upend loan covenants that require businesses to maintain certain debt-to-equity ratios. Harvey Bookstein, co-founder of RBZ and real estate leader, has advised entities on issues such as these and works with his team to mitigate such adverse effects regarding regulations. RBZ recently joined forces with Armanino, California’s largest accounting and consulting firm. For more information on our Bisnow partner, click here.
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Armanino LLP is the largest independent accounting and consulting firm based in California and one of the largest firms in the United States. Armanino provides an integrated set of audit, tax, consulting, business management and technology solutions to companies in the U.S. and globally. Armanino extends its global services to more than 100 countries through its membership in Moore Stephens International Limited—one of the world's major accounting and consulting membership organizations. In addition to its core consulting and accounting practices, Armanino operates its division—AMF Media Group (amfmediagroup.com), media and communications services and its affiliate, Intersect Capital (intersectcapitalllc.com), an independent financial planning, wealth and lifestyle management firm.
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