Accounting Theory

During unit 1 we discussed the core concepts of accounting theory. As many of you pointed out in the discussion thread, Accounting Theory is fluid and always evolving. A recent change to accounting for leases reflects a significant change. As you consider the measurement and implementation issues discussed in chapter 1, do you think the change in lease accounting will present an issue? Why or why not? Related articles: http://blog.aicpa.org/2016/03/changes-to-lease-accounting-have-been-announced-are-you-ready-.html#sthash.cd75jOJU.dpbs http://www.cgma.org/magazine/news/pages/fasb-issues-leases-standard-201613941.aspx?TestCookiesEnabled=redirect