Evolving impacts of COVID-19 on accounting, tax and reporting for REITs
In this webcast, panelists discuss accounting, tax and disclosure considerations associated with managing liquidity and tenant or resident relationships.
As the COVID-19 landscape continues to evolve, actions taken by real estate investment trust (REIT) management teams have also shifted in real time.
To help with your ongoing evaluation of these changes, we’ll dive deeper into the REIT accounting, tax and disclosure matters covered during our April 23 webcast, taking into consideration the rapidly changing environment over the past 60 days. Our panelists will provide updates on various considerations for evaluating lease concessions, including key considerations for assessing the collectibility of lease receivables as of June 30. We will also discuss some practical approaches to monitoring long-lived and other assets for indicators of impairment and provide some insight on how to manage taxable income when considering the economic effects of rent concessions and other impacts to the business. We will also address the impact of the current environment on the assessment of collectibility of mortgage notes receivable, as well as considerations for the assessment of Current Expected Credit Losses (CECL).
Moderator:
- Mark Kaspar, Assurance Partner, REIT Sector Leader, Ernst & Young LLP
Panelists:
- Mark Barton, Partner, National Assurance, Ernst & Young LLP
- Veronica Vros, Real Estate Resident, National Assurance, Ernst & Young LLP
- Stavros Zafiridis, Partner, National Assurance, Ernst & Young LLP
- Jeremy Simons, Partner, Financial Accounting Advisory Services, Ernst & Young LLP
- Sarah Ralph, Principal, National Tax Group, Ernst & Young LLP
- Mark Kirshenbaum, Principal, National Tax Group, Ernst & Young LLP
- Glenn Johnson, Principal, National Tax Group, Ernst & Young LLP
