FASB, IASB propose new approach to lease accounting

05/15/2013 | JournalofAccountancy.com

The Financial Accounting Standards Board and the International Accounting Standards Board earlier today issued a proposed, revised financial reporting standard for leases that represents an important step forward in a challenging convergence project. The proposal calls for a dual approach to the recognition, measurement and presentation of expenses and cash flows arising from leases that would treat most real estate leases differently from most equipment or vehicle leases.

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