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

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10/22/2013 by Energy & mining
The Bit - What energy company executives need to know about the proposed lease accounting standards

At a glance

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. This issue of PwC’s The Bit summarizes the proposed guidance and explains how it is likely to change key financial reporting metrics.

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 summarize the proposed guidance and explain how it is likely to change key financial reporting metrics.