Accounting for leases in the United States regulated by the Financial Accounting Standards Board (FASB) by the Financial Accounting Standards Number 13. These standards were effective as of January 1, 1977. These standards are currently under discussion for changes in FASB Topic 840, and finalization of new standards is not expected before late 2012.
Read more about Accounting For Leases In The United States: Introduction, Accounting For Leases By The Lessee, Lessee Accounting, Lessor Accounting, Calculation, Lease Accounting Rule Changes
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“What the United States does best is to understand itself. What it does worst is understand others.”
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—Michel de Montaigne (1533–1592)
“I, who am king of the matter I treat, and who owe an accounting for it to no one, do not for all that believe myself in all I write. I often hazard sallies of my mind which I mistrust.”
—Michel de Montaigne (1533–1592)
“What the United States does best is to understand itself. What it does worst is understand others.”
—Carlos Fuentes (b. 1928)
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—Henry David Thoreau (1817–1862)