Leasing companies "can help fleets adapt to new accounting rules"

Fleet operators should look to their leasing companies to help them adapt to forthcoming accounting rules, claims Mark Sinclair, director of Alphabet.

The new reporting standard, which is currently being formulated by the International Accounting Standards Board, will oblige firms to include 'off-balance sheet' assets, such as contract hire vehicles, in their main financial reports from 2011 onwards.

Fleet funding company Alphabet is itself working on a range of measures to help customers in anticipation of next year's change in reporting requirements for leased assets.

"We will be ready to take the lead if vehicle leases are affected by next year's rule changes," said Mr Sinclair.

"There are several ways we can help, from providing new fleet reports to smoothing their transition to different funding arrangements if necessary.”