Top auditors on capital issues and new standards

Last year, the FASB and IASB proposed changes that would radically alter income recognition and the balance sheet treatment of operating leases - changes that were immediately criticised on the grounds that they could make financial statements less rather than more informative. A year later, refined proposals have been forthcoming, and in this issue, we examine what has been happening.
Ronan Doyle, a partner at PricewaterhouseCoopers, writes on 'The piecemeal approach to lease accounting' that we have been seeing and 'The fundamental changes that the overhaul will bring to reported performance and leverage'.

Ernst & Young's John McCormack writes on the developments in his article 'Boards-to-re-expose-leases'
The IASB's headquarters in Cannon Street, London
The IASB's headquarters in Cannon Street, London

Topics

Accounting
This article appeared in the September 9th 2011 issue