If you Lease (Car, Office Equipment, Art), PLEASE See This

In simple English, if you lease anything for your business the way you account for the lease may change. There is a lease accounting change proposal proposed that will completely revamp te way you account for leases, and NOT in a positive way.

Here's a summary from BOMA International:  http://www.boma.org/RESOURCES/LEASEACCOUNTINGCHANGEPROPOSAL/Pages/default2.aspx

If you want Deloitte'sExposure draft on Lease Accounting (all 51 pages) click here: http://www.boma.org/SiteCollectionDocuments/Org/Docs/Resources/LeaseChangeProposal/Deloitte%20Lease%20Slides.pdf