The New "Lease" on Life - Major Changes Ahead for Lease Accounting

Lease accounting updates may take effect in 2012.  Leasing transactions, including what were previously considered operating leases, will be recorded as assets and liabilities at their inception. With the significant changes in recording leasing relationships, many clients will be affected by the changes. This article will discuss the treatment for GAAP financial statements. This is a high level discussion that will provide a proactive look at actions necessary in light of these lease accounting treatment changes.

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