Mastering the metropolis through research and thought leadership.
Working Papers

International Financial Reporting Standards in Real Estate

Working paper #658
Robert T. O'Brien

Real estate has for many years been a global business with a steady, international flow of capital despite the bumps and friction caused by different currencies, languages and accounting from one country to the next. However, one of those friction points may soon be removed as the world moves rapidly toward a single set of accounting and financial reporting standards, known as the International Financial Reporting Standards, or IFRS, today used in more than 100 countries and expanding rapidly. The SEC recently issued its “roadmap” outlining milestones that, if achieved, could lead to mandatory transition to IFRS by U.S. issuers starting in 2014. This article describes the expected impact of the adoption of IFRS on real estate companies. IFRS provides enhanced comparability to global competitors and perhaps greater opportunity to raise capital globally, but the adoption of IFRS will have implications beyond financial reporting, including impacts on a company’s processes, information systems, and human resources. Real estate companies should start their planning now and lay out a roadmap that provides for an appropriately integrated and sustainable conversion to IFRS.

Download full paper · 1MB PDF

In This Section
Explore Topics

1010 Affordable Housing Amazon Amenitization Architecture Artificial Intelligence Asia Australia automation Autonomous Vehicles bonds Borrowing Constraints Brexit California Canada Capital Business China Co-Working Environment coastal markets cold storage Colombia Commercial Brokerage Commercial Real Estate commissions Congestion consumer bias covid-19 CRE credit card market Credit Default Swaps Credit Insurance Credit Risk Transfers Culture Data Analytics data centers Data Collection Technology Debt Market Demand Demographics Density Development Discrete Choice disruption Diversity drones e-Commerce Economic Corridors economic policy economics education election studies Equity Funds Equity Market Ethnic Factors Europe Fannie Mae financial asset management Foreclosures Foreign Policy France Freddie Mac general equilibrium Global global economy Global Financial Crisis Globalization great depression Great Recession healthy buildings Hedonic hospitality Housing & Residential housing boom Housing Disease housing prices Housing Supply Identity Income Inequality India inflation Inter-generational mobility interest rates Investing jobs labor market Lagging Regions land use regulation Language life sciences Macroeconomics malls Market Pricing megacities Microeconomics Migration Minimum Payments Mixed-Use Mobility moral hazard mortgage insurance mortgage market Mortgage Rates Mortgages Multi-family Nation Building Non-Traditional Mortgages Office Market office sector pension funds Placed Based Policies Political Risk Price Discovery Private Equity Business public health public policy Public Schools real estate brokerage Real Estate Investment Real Estate Investment Trusts Recession Rental Retail Retirement reverse mortgages Risk Adjustment risk management risk-shifting robotics single family housing Slums Sorting South America Spatial Regions spillover effect stimulus package Sub-Prime Mortgages Supply Chains Sustainability Technology telecommunications trade transportation unemployment United States Urban Urbanization Warehouse welfare work from home