Daily News: May 17, 2013

NYT: New Lease Accounting Proposal Portends Big Changes

The New York Times said the new proposal on lease accounting backs off from some of the most controversial aspects of an earlier version, but it still represents a major change by requiring many companies to report vastly larger amounts of assets and liabilities than they do now.

The Times said there would probably be a considerable delay in making the new rules effective, probably until 2017, to give companies time to comply and, in some cases, to renegotiate loan agreements that put limits on borrowing by the companies.

To read the New York Times story click here.