Industry leaders offer their take on real estate pinch.The Business Journal asked the top real estate accountants in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. about the state of their field and what they saw as the reasons behind the sudden personnel crunch. Christopher Tower Partner and Director of Real Estate Services, Western Region BDO Seidman BDO Seidman, LLP is the United States arm of BDO International, one of the largest accounting firms outside of the Big Four. History BDO Seidman, LLP was founded as Seidman and Seidman in New York City in 1910 by Maximillian L. Seidman. LLP LLP - Lower Layer Protocol "There aren't too many finns that specialize in real estate since Kenneth Laventhal was bought by Ernst & Young, so there's definitely a shortage of top people. My real estate practice has doubled in the past few years because I'm getting clients from the Big 4 accounting firms that can't do the work because they're swamped "Swamped" is the seventeenth episode of The Batman's second season. It originally aired in North America on June 11, 2005. Plot Synopsis Killer Croc, a half-man, half reptile plans to submerge all of Gotham in water in order to facilitate his plundering of the city. with work from Fortune 500 firms." Michael Gillmore Partner, Area Industry Leader, Real Estate, Hospitality and Construction Co-director, National Homebuilder practice Ernst & Young LLP "Housing is my sweet spot. We audit 12 of the 15 largest homebuilders in the U.S., including KB Home. Real estate is a solid bricks-and-mortar industry and we're seeing some very aggressive private investors out there that are willing to pay very high prices for real estate in Los Angeles." Scott Farb Managing Principal Gumbiner Savett Inc. "I would venture to say that demand for real estate accountants is unprecedented, I've never seen it at this level before. And the reason is that both private and institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. are honing Honing could refer to
John Davis Lead Partner for Real Estate Accounting KPMG KPMG Klynveld Peat Marwick Goerdeler (accounting firm) KPMG Kaiser Permanente Medical Group KPMG Keiner Prüft Mehr Genau (German) KPMG Kommen Prüfen Meckern Gehen LLP "I think Sarbanes Oxley has added to the demand for accountants but it is significantly different for real estate companies than for other industries. There are more changes to the rules than there have been in the past, so they're all complicated, they take time, and they require skilled people." Philip Sutton Real Estate tax partner in Los Angeles PricewaterhouseCoopers LLP "On the tax or audit side, it's a dynamic regulatory environment fight now that is causing people to really pick up the pace. In a way, it sort of levels the playing field, because everyone is dealing with a new set of rules together." Harvey Bookstein Co-founder RBZ Rbz Ribozyme RBZ Reichsbahnzentrale (German) LLP "Nearly all of our clients are entrepreneurs, so we don't have to deal with public companies. To be successful in real estate, you have to find the fight general partner, but I think you have to be very careful, because the little guy is always the one that gets hurt." Doug McEachern Managing Partner, Pacific Southwest Real Estate Deloitte & Touche LLP "There's been an increase in demand not just in real estate but in corporate America. There's more time being spent these days on "accounting, documentation and understanding what's going on What's Going On is a record by American soul singer Marvin Gaye. Released on May 21, 1971 (see 1971 in music), What's Going On reflected the beginning of a new trend in soul music. , and there is concern that these are issues that do not generate revenue for a company." Tom O'Rourke Tom O'Rourke (born May 13 1856 in Boston) was a boxing manager in the late nineteenth and early twentieth centuries. O'Rourke boxed in his youth, but his primary talent was rowing. Real Estate Tax Partner Haskell & White LLP "You have so few accountants that are available to do the work, but legislation doubled the work load in a year. So you could feast on that and work like a crazy person for a year, but next year, the firm would have returning accountants on their team." Ernest Miranda Partner Squar Milner Miranda & Williamson LLP "Real estate as an industry really requires more of a specialized expertise. The real estate industry also is so alluring and it's been a hot market for the past five years, that you see people going into the mortgage industry or homebuilding, but not accounting." |
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