A 2013 study commissioned by the Chamber of Commerce and other stakeholders estimated that changes to the new standard would increase the total assets and liabilities of publicly traded companies by approximately $1.5 trillion, including $1.1 trillion from the capitalization of existing off-balance-sheet mortgage agreements (Jeff Beatty, Ian Bilenness, Mile, Nelson, Amie Sweeney and Nick Tansey, “Revised Exposure Draft in Lease Accounting Issue: Back on Front Burner,” CBRE Global ViewPoint, June 2013, bit.ly/2urr2aJ). For more information on the challenges companies face when leasing and the SEC`s general concerns, check out our Webinar Hot Topics in Accounting and Reporting: Insights from the Trenches at Will. For private companies in particular, we managed to master the realization of turnover and credit accounting before it was too late. IFRS 16 Leases will replace existing IFRS leasing rules. . . .
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