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Essay example - Finance and Accounting
Finance & Accounting
Pages 4 (1004 words)
Date Proposed changes under the Exposure Draft ED/2013/6 Leases The International Accounting Standards Board and the US Financial Accounting Standards Board publish the changes in this document jointly. The proposals are derived from facts such as insufficient information provided today…
Extract of sample
The funny bit about such adjustments is that they can be based on the annual expenses of operating leases (Arms 2010). On the other hand, they can as well be based on the undiscounted available future operating lease payments. These are normally available on the notes to the financial statements. Such is the information that is normally available to many users of the statements and the entire statement. The information is considered insufficient hence a recommendation that the adjustments be made repeatedly and even severally while measuring the same amount. This results into uniformity and quality decisions being made, in the process the populace would be in the position of rationalizing their information (Bell 2000). Secondly, it is argued that enhancing disclosure is never enough given enough consideration and those boards of most companies think and take such disclosures in a manner that it does not appear a substitute. The ED proposes that corporations report assets and liabilities as the failure to report or make such disclosures. The proposals further demand that the leased assets and liabilities always be computed and measured on discounted basis. ...
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