Q. David, could you please give us an update on the upcoming accounting rule changes?
A. Changes in lease accounting rules have been 12, maybe even 15 years in the making, and it’s all about the convergence of the standards so the investment community, globally, could have one set of accounting standards. The new standards came out early in 2016; first the international standards in January, and then the US standards in February.
In early 2016, new accounting standards were issued by the International Accounting Standards Board and the Financial Accounting Standards Board that will impact lease accounting. As a fleet professional, you might think there’s not much you can do to prepare for the changes. But there is. Here’s a checklist of the ways you can help your company prepare.
Navigating the new lease accounting standards changes can be difficult. So, we broke it down for you. Download our free resource to find out more about the changes and how you can get ready for them.
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