TRALA Releases FASB White Paper

• By: Shannon Davison
• On: 11/24/2015 09:57:48
• In: Legislative Bulletins

TRALA is pleased to announce that it has finalized its white paper on the upcoming accounting rule changes by FASB that will impact the entire truck leasing industry.
 
The white paper was finalized by TRALA accounting consultant Bill Bosco and gives both an overview of the final standards that are expected to be released in early 2016, as well as reviews the benefits to leasing that remain after these standards take effect in 2019.  The white paper will allow lessors the ability to discuss the accounting changes with their lessee customers now so that there are no surprises as the changes that will take place occur over the next few years.
 
TRALA worked in conjunction with the US Chamber, ELFA and a handful of other leasing organizations to push for FASB to diverge from IASB and in many instances they did exactly that.  While there will be changes that lessors and lessees will need to make to their internal systems, the draconian impacts that were originally expected are mostly now gone, particularly on the FASB accounting lease rules which the vast majority of TRALA member leasing companies are most impacted by.
 
You may view a copy of TRALA's FASB White Paper by clicking here.
 
If you have any questions or would like a PDF version of the white paper, please contact Jake Jacoby at jjacoby@trala.org or at 703-299-9120.
 
 
 

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