Lease Accounting

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EL&F Articles

Accounting for Investing in Tax Credit Structures

Developments aimed at improving simplicity and clarity
Tax Law Updates, Including the Inflation Reduction Act

This article covers some of the key tax updates affecting income taxes, including scheduled changes in selected tax rules as well as new laws passed in the Inflation Reduction Act (IRA).

Additional Articles

Career Pathways

If you're looking to advance your career in the accounting and finance arena of the equipment finance industry, visit the ELFA Career Pathways “Accounting and Finance Roadmap,” a comprehensive list of training, events, tools and volunteer opportunities offered by the association, customized to your role and experience level.

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Additional Research

Articles

JELF Summer 2022: Full Issue

This issue features articles on Inflation and Digital Deals
JELF Summer 2022: Anticipated Changes to Commercial Law Should Make

Future changes to our transactional practices, including if driven by technology or market practices, must fit within a legal framework, especially commercial laws.

Additional Articles

Additional Updates

FASB votes to finalize lease accounting relief - CFO Drive (Feb. 15, 2023)

ELFA submitted a Comment Letter to the International Sustainability Standards Board, which is working to develop a comprehensive global baseline of sustainability disclosures for the capital markets. ELFA's letter offers feedback on two proposals: IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS 2 Climate-related Disclosures. (July 18, 2022)

ELFA issued a Comment Letter on Leases (Topic 842): Discount Rate for Lessees That are Not Public Business Entities (July 16, 2021)

FASB to Delay Lease Accounting Standard for Some Private Companies & Non-Profits - The Journal of Accountancy reported that, as a result of the coronavirus pandemic, FASB voted on April 8 to propose delaying the effective dates of its lease accounting standard for certain entities. (April 8, 2020)

FASB delays implementation of accounting standards for some companies - The Financial Accounting Standards Board voted on Oct. 16 to extend the implementation deadline for several accounting standards, giving many U.S. companies additional time to prepare. The effective dates will be delayed for private companies and certain other entities for FASB’s standards on accounting for leases, credit losses (known as CECL), and hedging. (October 16, 2019)

INSIGHT: Should I Lease or Buy? New Tax and Accounting Rules Add Complexity - In this Bloomberg Tax article, ELFA member Bill Bosco analyzes the reasons companies lease and demonstrates how choosing the right lease product and structure can result in improved financial results. (Oct 16, 2019)

Industry Topics