New FASB Leases Standard – The article “FASB’s leases standard gets preliminary approval” is published in the November 2015 online issue of the Journal of Accountancy (Tysiac, K, 2015). Do you believe that these proposed changes in lease accounting will improve the quality of external financial reports, even though they will increase total liabilities and may reduce earnings? Why or how so or not? Please write a substantive response with some specifics to support your view.
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