In May 2013, the boards issued a revised proposal for a new lease accounting standard. Their original proposal, published as an Exposure Draft in August 2010, was widely criticised for being overly burdensome and subjective. Since then the boards’ deliberations have been quite transparent and, overall, the industry – lessors, lessees and the users of financial statements alike – has welcomed many of the subsequent revisions. 

Dubbed “Lease Accounting Reform: The Systems Impact for Asset Finance Lessors”, the whitepaper has been comprehensively updated and provides an overview of the current accounting standards, summarises the key features of the new Exposure Draft from both a lessor’s and lessee’s perspective, and considers the implications for lessors from a systems perspective. 

The whitepaper is available at http://www.chpconsulting.com