Paccar Leasing (PacLease) will hold a webinar on Thursday, July 14, at 9 a.m. PT to provide an update on the proposed FASB and IASB accounting standard changes regarding the financial treatments of leasing.
FASB and IASB plan to issue a new accounting standard in 2011 that may change the financial treatment and reporting of all leases, including truck and trailer leases. The proposed changes revise current accounting treatments under existing U.S. Generally Accepted Accounting Principles (GAAP) and International Financial Recording Standards (IFRS). Recently, FASB and IASB have made many changes to the standards proposed on the exposure draft that lease holders should understand.
Brent Stevens, corporate services manager at PacLease, will explain these changes and how the new lease accounting standards will impact a company’s financial statements. He also will explain some of the “myths” associated with lease accounting and how these changes can influence the lease-versus-buy decision.
Brent Stevens is a CPA and has extensive experience with lease accounting issues. He is actively involved in the Truck Renting and Leasing Association work group focusing on the changes proposed by FASB and IASB to lease accounting standards. Stevens has worked for PacLease in various capacities for 22 years.
There is no cost for the webinar. To register, go to the PacLease website at www.paclease.com/webinars.asp.