Groups propose reclassifying equipment leases as debt or asset

08/5/2009 | Transport Topics Online

Finance and leasing professionals are preparing for a proposed reclassification of equipment leases as a form of debt or asset rather than an expense on financial statements. The Financial Accounting Standards Board, along with the International Accounting Standards Board, proposed the change in March. Kenneth Bentsen, president of the Equipment Leasing and Finance Association, said the proposed change is "unduly complex" and would cause the loss of thousands of jobs.

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