Proposed accounting rules for leasing could hit small firms
New accountancy rules on leasing could affect hundreds of thousands of small businesses, according to the Finance and Leasing Association (FLA) and the Forum of Private Business (FPB).
The International Accountancy Standards Board (IASB) has proposed that all leased equipment, including cars, commercial vehicles, machinery and PCs, should be included on small firms' balance sheets. The FLA and FPB claim that it is "not sensible" to apply the same procedures to small businesses as those applied to large companies.
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