Washington, D.C. – A proposal to change how leases are accounted for on corporate balance sheets could have a widespread, detrimental impact on the U.S. economy, triggering a $10 billion reduction in gross domestic product (GDP) and 60,000 fewer jobs by 2016, the Equipment Leasing and Finance Association (ELFA) announced today. ELFA cited a new study, “Economic Impacts of the Proposed Changes to Lease Accounting Standards,” conducted by information and analysis provider IHS for the Equipment Leasing & Finance Foundation, as the first independent study to substantiate how the complex proposal might affect an already fragile U.S. economy.
LEAF CEO Comments On Proposed Lease Accounting Rule Changes
December 7, 2011 |
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