In a national survey of U.S. CFOs and senior comptrollers conducted by Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd, the vast majority (81%) support reforming lease accounting rules and half (51%) would continue to use leases more or less in the same manner as they currently do. However, there is less agreement on how to measure the lease obligation. A majority prefers to measure the lease obligation as either the noncancellable amounts due or those amounts plus amounts that are highly probable and reliably measurable instead of the more comprehensive estimates currently under consideration by the FASB and the IASB.
"The results show very strong support for putting lease obligations on the balance sheet," said John Hepp, a Grant Thornton Professional Standards partner.
"However, that level of support depends on the Boards using a simple, reliable measure of the lease obligation rather than a complex model that incorporates contingent costs or optional renewal periods other than bargain renewals.
Cambridge Consulting Group was formed more than 10 years ago to help large organizations reduce their costs by eliminating their leasing obligations for excess commercial real estate space. Founded by Dave Worrell, a former Corporate/Facility Director, Cambridge Consulting Group offers companies a better option than subleasing office space they no longer need or use. Using a newer financial strategy- Negotiated Lease Buyouts, Cambridge Consulting has saved Fortune 500 companies millions of dollars in commercial lease obligations. For more information please visit their website- www.ccgiweb.com
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment