PwC’s The Bit

What energy company executives need to know about the proposed lease accounting standards

US and international accounting standards setters are getting closer to completing their overhaul of lease accounting. They are taking this action in response to long-standing criticism that today’s financial statements do not adequately portray the economic substance of lease arrangements.

In this issue of PwC’s The Bit, we briefly summarise the proposed guidance and explain how it is likely to change key financial reporting metrics.