After recovering from the initial shock that the cost of leases is now headed for the balance sheet, companies have plenty of work to prepare for a new accounting standard that has huge implications for leverage, earnings, taxes, capital allocation, accounting systems, and even executive pay.
The Financial Accounting Standards Board delivered in August on its long-standing promise to overhaul how companies account for leases in corporate financial statements, with a proposed accounting standard that could be completed next year. The International Accounting Standards Board is proposing a similar approach for international rules, but the United States has been kicking ...