Accounting for leases: changes to UK GAAP

An overhaul of UK accounting rules will see operating leases brought onto the balance sheet for the first time. Jeremy Cooper, head of retail at Crowe UK, assesses the implications

The UK’s accounting for leases will change under proposals, FRED 82, recently issued by the Financial Reporting Council. The proposals would align FRS 102 with International Financial Reporting Standards (IFRS).

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