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Fleet Managers — Preparing for the New FASB Rules

Fleet Management Weekly

By Mike Quimby, Senior Vice President & General Manager, Element Fleet Management

 

If you’re a fleet manager, chances are you’re aware that the Financial Accounting Standards Board (FASB) is moving forward with a new standard requiring companies and organizations to include lease obligations on their balance sheets.

“We believe that this new standard is important because it will provide investors, lenders and other users of financial statements a more accurate picture of the long-term financial obligations of the companies to which they provide capital,” said FASB Chairman Russell G. Golden in a press release.

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