Asset and motor finance software and
consultancy services company CHP Consulting has published an online
thought leadership whitepaper about the International Accounting
Standards Board and the Financial Accounting Standards Board’s
overhaul of lease accounting.
Lease Accounting Reform: The Systems
Impact for Asset Finance Lessors summarises the key features
of the proposals so far, and considers the implications for
lessors’ systems.
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The paper, available to download from
chpconsulting.com, also
provides an overview of the current accounting standards, and
highlights the key changes made to the original proposals set out
in the Exposure Draft in 2010.
CHP relationship director Ralph Neuff said:
“The original proposals were widely held to be too burdensome and
subjective, but the industry has broadly welcomed the revisions
since then. This is our take on the situation as it stands, and we
will continue to issue expert commentary as changes occur.”
The IASB and FASB are expected to issue
a revised proposal for a new lease accounting standard in the
second half of 2012.
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