In 2016 a major revision of the accounting requirements for leases is set to have a significant impact on huge swathes of industries doing business internationally who rely on leasing assets as a way of doing business. International Accounting Standards Board (IASB) now requires that all leases be reported on balance sheet as assets and liabilities. Generally Accepted Accounting Principles (GAAP) does not have the same requirement.
I wouldn’t think that anyone in the world would be interested in this topic, but they should be. Weekly, I have conversations with business owners who find clever and unique ways to destroy the business they are so passionate about. They get a taste of success and get hungry for more. So if you’re interested in destroying your business, keep reading.