2013

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Industry Topics

2013

Dec. 19, 2013 - Read the latest update on the lease accounting project from Bill Bosco.
Oct. 3, 2013 - Feedback on lease accounting project reveals significant opposition; more than 625 comment letters submitted. Read full story.
Sept. 5, 2013 - ELFA member company CG Commercial Finance released an animated video outlining the issues and implications related to lease accounting changes proposed by FASB and IASB in the latest Exposure Draft. The video is available at www.cgcommercial.com/resourcecenter. With the debate of the final rules continuing and the Sept. 13 deadline for comment letters fast approaching, businesses impacted by the proposed account changes still have an opportunity to send their comment letters. Learn more.
Sept. 3, 2013 In a press statement, ELFA President and CEO William G. Sutton, CAE, highlighted recent developments that add to mounting evidence that FASB and IASB should reevaluate their proposal to overhaul lease accounting. He also encouraged lessees and their financing partners and other stakeholders to submit comment letters on the lease accounting Exposure Draft by the Sept. 13 deadline.
Aug. 28, 2013 In an email to all ELFA members, President and CEO William G. Sutton, CAE, urged members and their customers and other stakeholders to submit comment letters by the Sept. 13 deadline. The message includes sample text for lessors to send to their customers.
Aug. 1, 2013 - The Summer issue of ELFA's magazine urges lessors and lessees to Speak Out on Lease Accounting. It also highlights the Hidden Costs of the Lease Accounting Proposal and offers tips to prepare.
July 9, 2013 - On July 9, ELFA's lease accounting teamÃ³members Rod Hurd, John Bober and Bill Bosco and Chief Operating Officer Ralph PettaÃ³met at the offices of the Financial Accounting Standards Board in Norwalk, Conn., to discuss the lease accounting Exposure Draft. Learn more.
July 3, 2013 - FASB AND IASB have announced they will hold several joint public roundtable meetings on their revised lease accounting proposal. Upcoming U.S. meetings include Sept. 23 in Norwalk, Conn., and Oct. 3 in Los Angeles, Calif. The meetings will provide an opportunity for those that have submitted a comment letter, or who still intend to submit a comment letter, to discuss the proposal with the Boards in further detail. The Boards are seeking participation from preparers, auditors, investors and others. Learn more.
June 26, 2013 - ELFA has joined over 30 organizations in signing a letter to the FASB and IASB expressing concern over the lease accounting project. The letter reads, in part: "In its current state, it is our opinion that the proposed leasing standard may result in substantial costs to businesses, lack any benefits for investors and drive economic activity rather than reflect it." Read the full letter.
June 26, 2013 - Lease Accounting Project Update & Commentary
May 16, 2013 - ELFA Press Statement on the Lease Accounting Exposure Draft
May 16, 2013 - Lease Accounting Project Update & Commentary
April 17, 2013 - Update from FASB on the Leases Project
April 2, 2013 - CFO.com reports on the lease accounting project, quoting ELFA member Bill Bosco. Wait Continues for Lease Accounting Clarity
Feb. 5, 2013 - Customer Reaction to the Leases Accounting Project: Has Their Behavior Changed? Bill Bosco conducts an informal survey of ELFA members, confirming that the Lease Project will not change customer behavior significantly, because the key reasons to lease will continue to exist.

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