The Days of Off-Balance Sheet Leases are Numbered

This month, the Financial Accounting Standards board reached the deadline for comment letters regarding the proposed Accounting Standards Update for Leases (Topic 842).  If your company has operating leases with maturities greater than 12 months that aren’t reported on your Balance Sheet that may soon be subject to change.  Although the debate has been met with stiff opposition and is still an ongoing discussion; the days of off balance sheet leases are numbered if the FASB revises Topic 840.  To learn more about the proposed Accounting Standards update for leases please see our thought piece.

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