A Lease Accounting Case Study

Applying the recently proposed standards to a real company


On May 10, the Financial Accounting Standards Board and the International Accounting Standards Board issued revised exposure drafts calling for significant changes in lease accounting. These drafts would eliminate the fiction of operating leases, requiring business entities to recognize the lease obligations and the leased resources on their balance sheets, along with the concomitant changes in the income statements and the cash flow statements.

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