Wiss is your NY/NJ accounting and consulting firm with a global reach and
Contact Us: 973.994.9400
Back to Newsletters
The FASB is currently in the process of finalizing the new leasing standard which would require the capitalization of substantially all leases onto the balance sheet unless they are immaterial individually or in the aggregate or if the term of the lease is equal to or less than a year. The FASB expects to finalize the standard during the second half of 2015. The effective date for this standard has not yet been finalized by the FASB. We will advise you on any new developments associated with the new leasing standard.