CHP Consulting has produced a newly updated whitepaper on changing standards in lease accounting, to address the latest output from the IASB and FASB.
The fully revised Lease Accounting Reform: The Systems Impact for Asset Finance Lessors reflects the latest proposals from the Boards, together with notes from their redeliberation meetings, up to July 2014.
In the paper, CHP provides an overview of the current accounting standards, condenses the Exposure Draft feedback, summarizes the tentative decisions made by the Boards in their redeliberations for both lessor and lessee accounting, and considers the systems implications for lessors.
In May 2013, the Boards issued a revised proposal for a new lease accounting standard. Although this proposal was generally considered an improvement over the original Exposure Draft published in August 2010, it nevertheless attracted much comment, with many respondents disagreeing with various aspects of both lessee and lessor accounting. Towards the end of 2013, the Boards began to redeliberate their proposals.
Download the paper from chpconsulting.com.
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About CHP Consulting CHP Consulting has been delivering systems and professional services to the global automotive finance and equipment finance industry since 1990. Our best practice methodologies and specialized knowledge of asset finance mean that we deliver the largest system implementations and most complex business change projects. With a 100% delivery record over our 20 years in the industry, CHP's track record is unrivalled.
ALFA Systems, our class-leading software solution, is the next-generation software platform for auto finance that enables innovation and efficiency in your business through best-in-class technology and flexibility. Providing an integrated suite of services that satisfies both retail and commercial lending and leasing, wholesale and dealer finance, all on a single platform, ALFA is a feature-rich, scalable, end-to-end solution with integrated workflow and automated processing using business rules. With easy deployment and transactional transparency, ALFA Systems provides fresh ideas in a challenging market . CHP has offices in London, Paris, Detroit and Sydney. For more information, visit chpconsulting.com.