Category Archives: FASB and IASB Lease Accounting Updates

Up to date information, articles, discussions on the proposed FASB and IASB Lease Accounting Changes

July 23, 2014 Joint Board Meeting

The Financial Accounting Standards Board (“FASB”) and the International Accounting Standards Board (“IASB”) (collectively, the Boards) met on July 23, 2014 to continue further discussions on their Joint Proposal on Lease Accounting. With respect to lessee accounting issues, most of the discussion was narrowly centered on accounting for sale and leaseback transactions. The Boards determined… Read More »

FASB/IASB April 23, 2014 Meeting

The FASB and the IASB (“the Boards”) held a joint meeting earlier this week to continue their discussions on the proposed changes to the lease accounting standard. The Boards made more progress and came to a number of tentative conclusions designed to simplify their 2013 proposal. The definition of a “lease modification” was made clearer,… Read More »

2013 Year End Review

December is a time to look back at the past year and look forward to a new year. So let’s do that with respect to the Exposure Draft regarding changes to the lease accounting being considered by the FASB and the IASB (“the Boards”). The changes were formally proposed more than three years ago and… Read More »

Joint FASB/IASB Roundtable on Leases

Earlier this week, I attended one of the Joint FASB/IASB Roundtable session on Leases held in Norwalk CT. There were only about 15 attendees from those who submitted comment letters which was somewhat surprising since there were close to 600 comments letters submitted.  Numerous FASB and IASB Board members and staff were also in attendance.… Read More »

Revised Lease Accounting Exposure Draft Issued

The Financial Accounting Standards Board (“FASB”) and the International Accounting Standards Board (“IASB”) issued a Revised Exposure Draft (“ED”) earlier this week proposing major changes to the manner in which lessees would account for their lease contracts. The Revised ED contained a number of revisions to the 2010 Exposure Draft that the Boards originally issued… Read More »