RJ and Makay

The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) have proposed changes in accounting standards which will require leases to be reported on balance sheet. The proposed changes also will require increased frequency of gathering information and making decisions.

PWC’s Capital Markets Director Elizabeth Schoonees says companies must thoroughly review the changes to fully know their impact on business financial services. “Financial performance ratios, debt covenants and accounting systems” are areas to pay the closest attention to.