Grant Thornton LLP Supports Review of Lease Accounting Rules as FASB/IASB Working Group is Named

Grant Thornton has gotten out in front of a very old issue, changes in lease accounting, which is now subject to a review by the Financial Accounting Standards Board (FASB), and the International Accounting Standards Board (IASB). This project has been in the works for a long time, with the first meeting for February 2007. "The current lease standards need to be changed to give investors greater transparency...

  If they do not already do so, analysts need to begin proactively adjusting their models to reflect the assets and liabilities underlying “operating” leases onto the books of the companies they follow.  It is no longer a question as to whether many current operating leases will go onto the books, its merely a question of when and how many!