A topic of much discussion is the proposed changes to Financial Accounting Standards Board (FASB) lease accounting standards. The reason these conversations are so prevalent is that the changes are expected to increase the cumulative liability on corporate balance sheets by up to $1 Trillion. This will be the result of a requirement that all leases (particularly office, retail or industrial real estate leases) will be recorded as Capital Leases rather than Operating Leases. Sometime in the next week, I encourage you to drop the word FASB (pronounced Fazz-Bee) into your conversation with colleagues and see if they know what you are referring to. Additionally, to learn more about the changes and steps that our clients are taking to prepare, please download our letter to Real Estate Directors, CFOs, and COOs which is contained on the right side of our blog (or will be shortly).