Pushback in Europe?

In the United States, an accounting decision made by the FASB is essentially the end of the process. In Europe, it's not quite so simple. While the IASB is tasked with setting accounting standards, there's still a review role for the European Union (and potentially individual countries' governments). Monitor Daily reports that the European Commission (executive branch of the EU) will review IFRS 16, the IASB's version of the new lease accounting standard, particularly looking at its impact on SMEs (small and medium-sized enterprises). The question is whether the benefits outweigh the costs for smaller organizations that have less sophisticated accounting systems.

From my perspective, the answer is simple: EZ13 is a cost-effective lease accounting system available for both small and large firms! But of course, there are costs beyond the calculation of the lease accounting itself.