While the IASB and the FASB (the boards) consider changes to the original lease accounting proposals [IAS 17], a number of companies are already starting to prepare, spurred on by the significance of the proposed changes.

Improving lease accounting has been a long-term goal of the boards as a criticism of the existing lease standards is that lessees do not recognise all lease obligations on their balance sheets, based on arbitrary distinctions between operating and finance leases.