Posts Tagged ‘FASB’

Lease Accounting: FASB Revised Exposure Draft

Director, Pete Kennedy On May 16th, the FASB issued its revised exposure draft on Lease Accounting. This is the second time an exposure draft has been released on this topic. The draft details a major re-write to the rules around accounting for leases. In a nutshell: Lease accounting as it currently stands separates leases into…

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FASB Project on Accounting for Leases

The rules on lease accounting have remained substantially unchanged since the 1970’s.  For the most part, lease payments are expensed as paid over the course of the lease.  Leases where the threshold for ownership transfer is met as defined by a narrow series of accounting parameters (capital leases) are accounted for as though the ownership…

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