In August 2010, the FASB and IASB issued a joint exposure draft ' Leases. The exposure draft creates a new accounting model for both lessees and lessors, and eliminates the concept of operating leases.
Lease Accounting, Financial and Other Covenants
This article summarizes the new accounting model for lessees and addresses the impact the new model may have on financial and other covenants typically found in financing agreements, where the lessee is the borrower.
By
Gian-Michele A Marca And Barry A. GraynorThis premium content is locked for LawJournalNewsletters subscribers only
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