New accounting rules that will require companies to include virtually all leases on their balance sheets will not affect credit ratings or the approach Fitch Ratings uses in adjusting leverage metrics to take account of leases, the ratings agency has announced.
Companies who lease vehicles will now be required to include the leases on their balance sheets but won't have the leases counted as debt under new lease accounting rules released by the Financial Accounting Standards Board (FASB) on Feb. 25.
Choosing a leasing instrument during the procurement process is a vital aspect of fleet management that requires consideration of costs, utilization, and remarketing scenarios.
The Financial Accounting Standard Board (FASB) and the International Accounting Standards Board (IASB) plan to hold a number of public roundtable meetings in the fall of this year on their revised joint proposals on lease accounting standards.
NORWALK, CT - The IASB and FASB boards discussed whether to include inventory assets related to a leased asset in the standard, the application of financial asset guidance to the right to receive lease payments, the accounting for residual value guarantees by lessors, and related topics.
NORWALK, CT - The IASB and FASB said that re-exposing the draft will give those interested the opportunity to comment on revisions that the boards have made since releasing a draft on leasing standards in August of 2010.
EDEN PRAIRIE, MN – Corporate fleet managers rate higher and more volatile fuel prices as their top concern in 2011.
GE Capital Fleet Services will host a webinar on Thursday, March 17 to examine how potential changes by the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (ISB) could change balance sheet and income statement presentation for certain lease financing.
WASHINGTON - The Equipment Leasing and Finance Association (ELFA) released a statement July 17 on proposed revisions to lease accounting standards (FAS 13) and submitted a comment letter to the Financial Accounting Standards Board.
On Aug. 27, the Securities and Exchange Commission raised the possibility that approximately 110 U.S. publicly traded companies will be able to use international accounting standards (IAS) next year and may require all U.S. companies to switch to IAS between 2014-2016. There is a 60-day comment period about the SEC proposal. Fleet leasing will be impacted by the adoption of IAS. It is probable that all fleet leases in the U.S. will need to be capitalized sometime in the 2011-2016 timeframe.