We’ve been talking to organizations about the proposed changes to FASB/IASB guidance on lease accounting changes since they first took up the issue way back in 2008. At first there was a lot of interest, but as the years wore on many corporate real estate and finance executives adopted an, “I’ll believe it when I see it,” approach. We couldn’t really blame them, but as of today, you can believe it.
Today the Financial Accounting Standards Board (FASB) joined the International Accounting Standards Board (IASB) by announcing new changes to how real estate and equipment leases must be reported. As one current presidential candidate might say, the changes are YOUUUGE!
For full details on the changes and how you can get prepared, have a look at our eBook, which provides a complete look. In short, here’s what you need to know: