Mammon Among Friends

In Mammon Among Friends, Malcolm C. Harris, Sr. provides commentary and news about the national economy, the Wichita economy, the world of finance, and utility & postal economics. Experiences such as a utility commission staff manager, forecasting postal volumes and revenues, consulting on utility regulation, and teaching corporate finance have shaped his analysis.

Wednesday, November 12, 2014

Will New Lease Accounting Bring On the Apocalyse?

In Monday's Wall Street Journal, congressmen Brad Sherman and Peter King claim that the proposed changes in Lease accounting will cost 3.3 million jobs. This seems a bit extreme. Furthermore Emily Chasan writes that changes are coming soon.  In a separate article she writes the change could add $2 trillion (yes that is with a "T") to corporate balance sheets and that "adding assets and liabilities for store leases, airplanes and the like could force companies to renegotiate the terms of their loans with lenders. Banks and lenders often require companies to maintain covenants, such as a specific debt-to-equity ratio, fixed-asset ratio or earnings metric, which could all be thrown out of whack by such a significant accounting change"
Posted by Dr. Malcolm C. Harris, Sr. at 6:34 AM 0 Comments
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Labels: Accounting, Aircraft Leasing, Corporate Finance, Leasing
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