Changes Are Coming

U.S. and international accounting rule makers have proposed an overhaul of lease accounting that could bring some $1.2 trillion of leased assets onto company balance sheets. In a joint statement, the International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) indicated these changes will result in a consistent approach to lease accounting for both Lessees and Lessors, intended to improve the transparency of lease accounting and also decrease its current complexity. Simon Lee, national technical director, KPMG, said the proposals will affect most companies.

Given these changes are imminent (expected implementation by 2015) it will behoove companies to be proactive in reviewing the strategies in which they have previously financed their capital equipment.  Plus, as the economy continues to strengthen and new capital equipment expenditures are considered, management should be aware of all structuring options available to them---including fundamental motivations relating to both cash flow preservation and tax depreciation.

Let us help you understand what is changing and how it will affect you. For a no-obligation conversation, call Tom Rude directly at 262-792-7151.

    FBIZ Advantage

    Stay on top of your game with First Business resources tailored to your business needs.

  • See More

    The FBIZ Advantage is a resource center geared to help you with all your business needs.

Have a Question?

Let us put you in touch with the appropriate representative to help you with your business needs.