EQUIPMENT FINANCE GROUP BALKS AT LEASING PROPOSAL
Washington, D.C. - The leader of a trade association for the equipment finance sector criticized the new accounting standards for leasing contracts proposed by the Financial Accounting Standards Board and the International Accounting Standards Board in late August.
According to William G. Sutton, president of the Equipment Leasing and Finance Association, the FASB and IASB exposure draft "is unduly complex and will impose a compliance burden on lessees that will not result in a significant improvement in the quality or reliability of financial information."
The group plans to submit a comment letter detailing the association's specific concerns before the December 15 comment deadline, asking the standard-setters to address a number of concerns about the proposal. More information about the lease accounting proposal is available on the ELFA Web site at www.elfaonline.org.
IMA CALLS FOR MANAGEMENT ACCOUNTING RESEARCH
Montvale, N.J. The Institute of Management Accountants Foundation for Applied Research has issued a call for proposals for new management accounting research from the academic community.Proposal submissions are accepted on a rolling basis in all related research areas. The directors who oversee FAR's research activities have established research priorities to address these questions:
* How can management accounting and finance best contribute to improving competitiveness and achieving continuous improvement in the enterprise?
* How does management accounting affect management behavior?
* What are important emerging cost management and performance measurement techniques and issues?
* How is globalization affecting management accounting and finance?
* How is emerging technology being used to improve the effectiveness of management accounting?
For more on the guidelines for submitting a proposal, visit www.imanet.org.
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