As a Federation, Leaseurope brings together associations throughout Europe that represent either the leasing, long term and/or short term automotive rental industries. The scope of products covered by Leaseurope's members ranges from hire purchase and finance leases to operating leases of all asset types (automotive, equipment and real estate) and also includes the rental of cars, vans and trucks.

It is estimated that Leaseurope represents approximately 96% of the European leasing market. In 2008, 330 billion euros of new leasing volumes were granted by the firms represented through Leaseurope's members, contributing to financing on average 18% of total European investment. Moreover, these firms are responsible for the leasing and rental of around 16 million cars throughout Europe.

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IFRS Lease Accounting

IASB & FASB Issue Draft Leases Standard

International standard setters, the IASB and FASB, have released an Exposure Draft Leases Standard. The draft is open for public consultation until 15 December 2010.

Leaseurope has issued a press release commenting on the Exposure Draft and the Federation's previous positions on changes to lease accounting can be found on the publications section of our website.

For more information on the proposals:

- The IASB has made available several audio broadcasts providing an overview of the proposals available on their website.
- Consult our lease accounting dedicated policy page.
- As a lessee, if you interested in understanding how your financial statements will change as result of the new proposals for international lease accounting, use William Bosco's lease accounting change calculator. William Bosco (Leasing 101) is a consultant for the US Equipment Leasing & Finance Association on lease accounting issues.