A variety of options are on the table for REIT sustainability reporting.
FASB Researching Non-GAAP Reporting
Russell Golden, chair of the Financial Accounting Standards Board (FASB), joined REIT.com for a video interview at REITWise 2016: NAREIT’s Law, Accounting and Finance Conference at the Marriott Marquis in Washington, D.C.
Golden addressed the question of whether the proliferation of financial reporting that doesn’t adhere to Generally Accepted Accounting Principles (GAAP) reporting means that the GAAP income statement needs to be examined.
Strategist Sees Broad Range in Public Sustainability Reporting
Lenora Suki, head of sustainable finance product strategy at Bloomberg LP, joined REIT.com for a video interview at NAREIT’s 2016 Leader in the Light Working Forum at the Ritz Carlton – Coconut Grove in Miami.
Suki described the current state of public sustainability reporting.
Investors Driving Change in Sustainability Reporting
Audit Specialist Views Fair Value Accounting as Major Change in Financial Reporting
Greg Ross, audit partner at Grant Thornton LLP, joined REIT.com for a video interview during REITWise 2015: NAREIT’s Law, Accounting and Finance Conference held in Phoenix.
According to Ross, one of the biggest changes in financial reporting that he has witnessed is the change related to fair value accounting.
“Investors want it, so there are a lot more items on the balance sheet today with fair value implications,” Ross said.
KPMG Partner Expects Leasing to Continue After Implementing New Reporting Standard
Kimber Bascom, partner in the KPMG Department of Professional Practice, joined REIT.com for a video interview during REITWise 2015: NAREIT’s Law, Accounting and Finance Conference held in Phoenix.
Bascom downplayed concerns that the new leases standard will end leasing activity.
“There are many good reasons why leasing activity will continue to go on even after the accounting standards change,” he said.
SEC Official Says Stakeholders Like REIT Reporting Practices
Sonia Barros, assistant director of the Division of Corporation Finance at the Securities and Exchange Commission (SEC), joined REIT.com for a video interview during REITWise 2015: NAREIT’s Law, Accounting and Finance Conference held in Phoenix.
Barros discussed how REITs are performing overall in terms of their SEC reporting. She noted that REITs differ from other industries with respect to their practice of providing information about property operating data in their supplemental packages.
REIT Investors Benefit from Sustainability Reporting Convergence, Forest City Executive Says
Jill Ziegler, director of sustainability and corporate responsibility with Forest City Enterprises, Inc. (NYSE: FCE.A), joined REIT.com for a video interview at NAREIT’s 2015 Leader in the Light Working Forum in Reston, Va.
Ziegler said Forest City learned “a lot” in putting out its first sustainability report to the public a year ago.
“We’ve received a really good response from all of our stakeholders, including our internal associates as well as external stakeholders like investors,” she said.
