How to prepare for new lease accounting rule

A draft new accounting rule for leases has proved an unlikely source of controversy, reports Nick Huber.

The draft rule is expected to put billions of pounds of leased assets on company balance sheets, especially for companies with a lot of property such as retailers. 

Critics of lease accounting, which is being developed by the International Accounting Standards Board and its US counterpart the Financial Accounting Standards Board (FASB), say it is complicated and will be expensive to comply with.

Progress on the new rule has been slow...

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