Its Impact on the Financial Position and Performance of Australian Companies
Abstract Lease Accounting is an area which currently has different practices proposed in IFRS and US GAAP. Even lease accounting practices are not interpreted in the same way by different companies within IFRS. This causes confusion for the investors as due to different interpretation by different companies leases are accounted for differently in the annual report and accounting books. This causes problem for regulators, government and investors to judge and rate companies uniformly. As an effort to consolidate and bridge the current gaps, IFRS and US GAAP have come up with Exposure Draft –ED 202. There are some ...
