In August 2010, the Financial Accounting Standards Board (FASB) issued the original exposure draft of a new accounting standard related to lease accounting. While the FASB and the International Accounting Standards Board (IASB) continue to make changes and the proposed standard has not yet been finalized, the pending changes to lease accounting rules will create a profound and lasting effect on all businesses, including manufacturers. Until the final standard is released, we do not know what the ultimate impact will be; however, we do know the direction in which the FASB and IASB are heading.

In the proposed standard, the accounting model for leases would change to a “right of use” model in which a lessee would recognize an asset representing its right to use the leased asset.  As a result, many leased assets will be recorded as an asset by the lessee, even if they would be treated as an operating lease under current accounting standards.

During this webinar, participants gain an understanding of how these proposed changes might affect your financial statements, so you can begin planning now for the impact the rules will have on your organization and the way you conduct business.

Presenters provide a brief history of lease accounting, highlight the major changes proposed, review lease accounting from both lessee and lessor perspectives, and address the likely impact these proposed changes will have on financial statements.