Proposed changes to accounting rules may make leases seem more exciting, but not necessarily for the right reasons, writes Richard Bird.

The accounting press has of late been dominated by articles related to accounting for financial instruments, but has spared the ink on leases, which are often seen as less exciting than the financial products currently hitting the headlines. Over the last couple of years, however, the International Accounting Standards Board has been working on a new lease accounting standard, the proposed changes of which may make leases seem much more exciting, but not necessarily for the right reasons.