David Nolte
I am a founding principal of Fulcrum Inquiry, an accounting and economic consulting firm that performs damage analysis for commercial litigation, forensic accountings, financial investigations, and business valuations. I am a Certified Public Accountant (CPA) and an Accredited Senior Appraiser (ASA), as well as having other professional credentials. I regularly serve as an expert witness involving damages measurement. My litigation-oriented resume is on Fulcrum's website.
Permanent link to this article: https://betweenthenumbers.net/2012/07/accounting-standard-will-require-significantly-more-leases-to-be-put-on-the-balance-sheet/
Sponsor
Between the Numbers is sponsored by Fulcrum Inquiry. Fulcrum Inquiry is a consulting firm whose services include calculation of litigation damages and related expert testimony, forensic accounting, financial investigations, economic analysis, and business appraisals.
Thought for the Day
Denis Waitley (1933 - )
Motivational speaker & best-selling author
Categories
- Appraisal/Valuation (44)
- Bankruptcy (7)
- Capital Markets (16)
- Class Action (14)
- Commentary (61)
- Computer Forensics (4)
- Damages (116)
- Discovery (7)
- Disgorgement (8)
- Economic Damages (36)
- Economics (37)
- Employer Discrimination (6)
- Environment (1)
- Expert Witnesses (31)
- Failure to promote (4)
- Financial regulation (28)
- Financial Reporting (56)
- Forensic Accounting (106)
- Fraud (63)
- Health Care (9)
- Intellectual Property (61)
- Internal Controls (2)
- Just for Fun (33)
- Lost Earnings (20)
- Medical malpractice (12)
- Personal Injury/Wrongful Death (23)
- Personal Investments (37)
- Ponzi Scheme (3)
- Product liability (9)
- Public Policy (58)
- Real Estate (8)
- Research and Polls (43)
- Statistics (46)
- Strategy (7)
- Taxes (61)
- Technology (37)
- Uncategorized (9)
- Valuation (8)
- Whistleblower Systems (56)
- Wrongful Termination (6)
Comments Policy
All postings (including those associated with Fulcrum Inquiry) are the opinions of their respective authors, and do not necessarily reflect positions of Fulcrum Inquiry.
Anyone is allowed to post comments on any article; however, comments appear only following review. Advertisements not pertaining to the blog subject, spam (bot generated) comments, foul language, ad-hominem attacks, and immature behavior will not be approved.
The Lawyers Say….
All posts are copyrighted by Fulcrum Inquiry® as of their publication date
The authors and publishers are not intending to render legal, accounting, tax, or other professional advice. No client relationship is established from making general information available on this site, or from your making a comment or transmitting an email message to us. None of the information on this site should be used as a substitute for consultation with competent advisors that are able to consider the application of any general information to your specific situation.
While we have attempted to ensure that information contained on this site is reliable, we are not responsible for any errors or omissions, or for the results obtained from the use of such information. No guarantee of completeness, accuracy, timeliness, or of the results obtained from the use of this information is provided.
Jul 08
Accounting Standard Will Require Significantly More Leases To Be Put On The Balance Sheet
July 8, 2012
On June 13, 2012, after more than a year of deliberation, the International Accounting Standards Board (IASB) and U.S. Financial Accounting Standards Board (FASB) agreed on an approach for accounting for leases that generally will be simpler to implement than some of their earlier and more controversial proposals. The Boards plan to release a joint Exposure Draft in the fourth quarter of this year, with a final pronouncement occurring in 2013.
Details of the planned pronouncement are contained in this article.
Numerous leases that previously did not require balance sheet recognition in the U.S. will now be recorded as a liability. This will change debt ratios on the balance sheet, which potentially can affect loan compliance ratios and covenants. Because of this major change, those negotiating loans and loan agreements should make arrangements now so that any changes in accounting standards will not cause a default, but will instead involve a restatement of the covenant itself.