CHP Consulting said it has published a new version of its whitepaper on lease accounting to reflect the latest developments in changing standards.

“Lease Accounting Reform: The Systems Impact for Asset Finance Lessors” has been comprehensively updated to reflect the latest proposals from the IASB and FASB. In the paper, CHP provides an overview of the current accounting standards, summarizes the key features of the new exposure draft from both a lessor’s and lessee’s perspective, and considers the implications for lessors from a systems perspective.

In May 2013, the boards issued a revised proposal for a new lease accounting standard. Their original proposal, published as an exposure draft in August 2010, was widely criticized for being overly burdensome and subjective, CHP said. Since then the boards’ deliberations have been quite transparent and, overall, the industry – lessors, lessees and the users of financial statements alike – has welcomed many of the subsequent revisions.

To download CHP’s whitepaper click here.