NAREIT sent a comment letter on Aug. 4 to the Financial Accounting Standards Board (FASB) detailing its concerns with a proposed update to accounting for joint ventures.

The guidelines of Proposed Accounting Standards Update Investments – Equity Method and Joint Ventures (Topic 323) Simplifying the Equity Method of Accounting “generally would diminish the usefulness of reporting the investor’s economics in these arrangements,” according to NAREIT.

NAREIT recommended that the board do further study on the equity method of accounting.

(Contact: Chris Drula at cdrula@nareit.com)

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