Future lease accounting rules take shape

A new paradigm for lease accounting is about to be released and it will impact every business whether public or private. In June of 2010, the U.S. Financial Accounting Standards Board (FASB) and its counterpart, the International Accounting Standards Board (IASB), issued an Exposure Draft of lease accounting changes. The proposals will be dramatic and accounting for all leases of real estate and equipment, existing and new, will be changed.   For more information please contact your tax representative or visit http://www.joneslanglasalle.com/MediaResources/AM/Email/National/Perspectives%20on%20Corporate%20Finance.pdf