Truck leasing

The current exemption ends April 19.

For years, port trucking companies in southern California have used lease-to-own agreements with their drivers to avoid costs like fuel and insurance, re-classifying their employees as independent contractors. Now the city of Los Angeles has filed suit to put an end to the practice.

Blockchain offers a number of opportunities within freight management to improve cash flow. Pay per mile insurance coverage is one new concept, but that same philosophy can be applied to vehicle leases, perhaps changing the way fleets pay for their vehicles.

In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2016-02, Leases (Topic 842) (the Update). The Update represents the first comprehensive overhaul in lease accounting in approximately 40 years.