"The proposed changes are a seismic shift in lessee accounting for operating leases," says Anne-Lise Vivier, senior analyst at Thomson Reuters and author of the report. "All leases would be required to be capitalized, which would have a significant impact on reporting and documentation requirements for lessee preparers."
The Thomson Reuters Checkpoint report, which features concise descriptions and analyses, can be downloaded online at no charge.
The report covers topics such as:
Scope of the new guidance on leases
Definition and classification of a lease
New accounting models for lessees and lessors
Measurement of lease transactions
Presentation and disclosure provisions
Sale and leaseback transactions
The report is an example of the practical, insightful information available on Thomson Reuters Checkpoint, the industry-leading and award-winning online service that provides research, news, analysis, and productivity tools to tax, audit, accounting, legal, trade, and finance professionals.