Accounting standard setters have unveiled their long-promised proposal to require companies to put the assets and liabilities assumed under lease contracts—regardless of how they are structured—on the balance sheet.
The Financial Accounting Standards Board and the International Accounting Standards Board have published a joint proposal to modify both U.S. and international accounting rules so that all lease contracts would be evaluated in the same way, ending the structuring that routinely occurs under existing rules to keep most lease obligations off the balance sheet.
