Definition of a Lease

The Financial Accounting Standards Board (“FASB”) and the International Accounting Standards Board (“IASB”) (collectively, “the Boards”) met earlier this week to continue their deliberations on the Joint Lease Accounting Project. The meeting focused specifically on the definition of a lease and the Boards reiterated the conclusions that they had reached in their Joint Meeting in… Read More »

How to get started preparing for the Lease Accounting changes

The Financial Accounting Standards Board (“FASB”) and the International Accounting Standards Board (“IASB”) are proposing major changes in the accounting for leases for both lessees and lessors, with the major emphasis being directed to the lessee community. The result of these changes will be the elimination of the operating lease form of accounting, except for… Read More »

FASB Meeting on August 27, 2014 – Lease Project Update

The Financial Accounting Standards Board (“FASB” or “the Board”) met on August 27, 2014 to deliberate the proposed lease accounting standard project. Although this is a joint project with the International Accounting Standards Board (“IASB”), this was a FASB only board meeting. The Board discussed sale and leaseback transactions and tentatively determined that a seller-lessee… Read More »

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 »

CPA Call to Action – Confronting the Lease Accounting Changes

Have you started thinking about how the Lease Accounting changes will impact your clients? We hope so!! We’ve written this free whitepaper for you, a CPA with real-world responsibility to your clients. http://www.mylanderpages.com/ileasepro/cpa-call-to-action This whitepaper has been written specifically for you as a CPA to help you better understand the opportunities available for you to… 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 »