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Closed-End Leases

New Accounting Rules Require All Leases on Balance Sheets

The Financial Accounting Standards Board (FASB) has voted to move forward with a new standard that would require companies and organizations to include lease obligations on their balance sheets, a move that's being greeted with cautious optimism by fleet management companies.

City of Marion Debates Lease vs. Own for New Bucket Truck

The Marion City Council ended up approving a lease-lease agreement with Altec Capital for a new truck that would cost the City $86,157 over a five-year period. At the end of five years, the City has the option to purchase the vehicle for its fair market value cost or enter a new lease for a new truck.

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