Private Fleet Webinar Outlines Recent Updates to Proposed Lease Accounting Standards

BELLEVUE, Wash., July 5, 2011 — PACCAR Leasing (PacLease) will hold a webinar on Thursday, July 14 at 9 a.m. PDT to provide an update on the proposed FASB and IASB accounting standard changes regarding the financial treatments of leasing.

FASB and IASB plan to issue a new accounting standard in 2011 that may change the financial treatment and reporting of all leases including truck and trailer leases. The proposed changes revise current accounting treatments under existing U.S. Generally Accepted Accounting Principles (GAAP) and International Financial Recording Standards (IFRS). Recently, FASB and IASB have made many changes to the standards proposed on the exposure draft that lease holders should understand.

Brent Stevens, corporate services manager at PacLease, will explain these changes and how the new lease accounting standards will impact a company’s financial statements. He will also explain some of the "myths" associated with lease accounting and how these changes can influence the lease-versus-buy decision. 

Brent Stevens is a CPA and has extensive experience with lease accounting issues. He is actively involved in the Truck Renting and Leasing Association (TRALA) work group focusing on the changes proposed by FASB and IASB to lease accounting standards. Stevens has worked for PacLease in various capacities for 22 years.

There is no cost for the webinar. To register, visit the PacLease website at www.paclease.com/webinars.asp. 

About PacLease and PACCAR

PACCAR Leasing Company (PacLease) is one of the fastest-growing commercial truck leasing companies in the transportation industry. PacLease has independent and company-owned full-service leasing locations throughout the United States, Canada, Mexico and Germany. PacLease provides customized full-service lease, rental and contract maintenance programs designed to meet the specific needs of customers. A combination of reliable, custom-built trucks and complete service offerings allows customers to maximize the value of their transportation resources.

PACCAR Leasing is a part of the financial services group of PACCAR Inc, a global technology leader in the design, manufacture and customer support of high-quality light-, medium- and heavy-duty trucks under the Kenworth, Peterbilt and DAF nameplates. PACCAR shares are traded on the Nasdaq Stock Market, symbol PCAR, and its homepage can be found at www.paccar.com.