Katie Harding

Document Type

Honors Project

First Advisor

Tom Rosengarth

Degree Award Date

Fall 2010


Lease Accounting, Comparative Study, Current Financial Reporting Standards, GAAP, IFRS


Accounting | Business


The SEC has implied, through their endorsement of the International Financial Reporting Standards (IFRS) and the convergence project between the FASB and the IASB, that a move from U.S. GAAP to IFRS will provide financial statement users with preferable information regarding company profitability and risk. This paper tests that implication as it pertains to leases. Through a comprehensive history of lease accounting and example financial statements, this paper determines which accounting standards provide users with preferable information on companies that use leases extensively.