Companies are advised to hold off on lease-accounting changes

07/29/2013 | Journal of Accountancy online

A lack of consensus about how leases should be represented on a company's balance sheet is fueling disagreement about a proposed lease-accounting standard and creating uncertainty about how companies should proceed. The measure narrowly gained approval from the Financial Accounting Standards Board, and ELFA has expressed disagreement with the exposure draft. John Hepp, a partner at Grant Thornton, says that until a comment period ends Sept. 13, companies might want to hold off on significant changes.

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