Introducing “Approach Y”: A Better Lease-Accounting Model for Lessees (Part 5)
Here is the fifth in a series of working papers that I am preparing to explain “Approach Y”—a lease-accounting model for entities that are lessees. The new working paper focuses on the significant implications of Approach Y’s terminology, i.e., the specific words and phrases that are integral elements of Approach Y’s unique presentation/disclosure model. In comparison to other approaches, the terminology of Approach Y is significantly less likely to confuse financial-statement users and significantly less likely to create adverse unintended consequences for reporting entities.
Please find the new paper attached.
I welcome your feedback on the new working paper. I also invite you to watch for my additional working papers.