While the new GAAP accounting rules will initially require companies to re-evaluate existing leases and develop new processes and reporting, many of the changes are relatively neutral. Ralph Petta, President and CEO of the Equipment Leasing and Financing Association (ELFA) goes even further to point to a silver lining with numerous positive impacts in his article, "The Silver lining of Lease Accounting: What Organization Should Know About the New Standard"
Petta goes on to clarify that combined with changes in the U.S. tax code, lease financing, with its wide range of inherent advantages, will continue to be a beneficial option for equipment acquisitions. As a leader in the equipment leasing and financing industry for decades, Petta's advice is relevant, reasoned and highly recommended.
For more information contact us at 844. 816. 9420