|
|
Lease accounting at crossroads--which direction will it take?
- Article from:
-
Equipment Leasing Today
- Article date:
-
October 1, 1997
- Author:
-
|
Copyright informationCopyright Equipment Leasing Association of America Oct 1997. Provided by ProQuest LLC. (Hide copyright information)
|
When you come to the fork in the road, take it," is a familiar saying. Lease accounting is rapidly approaching that fork. Action by ELA, its members and customers will be needed to insure that the direction taken in subsequent financial accounting standards recognizes the difference between leases and loans and maintains a conceptual base of "risks and rewards."
ELA already has fired its opening shot in comments filed with the International Accounting Standards Committee (IASC) in response to IASC's E 56 proposal for lease accounting. In addition, ELA met in June with members and staff of the Financial Accounting Standards Board (FASB)to discuss potential changes to lease accounting and ...