ELFA takes issue with a proposal on lease accounting

08/22/2010 | WebCPA

ELFA has criticized several elements of a proposal for lease-accounting standards from the Financial Accounting Standards Board and the International Accounting Standards Board. The exposure draft is unduly complex and would impose a compliance burden on lessees, said William G. Sutton, president of ELFA. The association plans to submit a formal comment letter detailing its concerns to the standard setters. It also has assembled a team, coordinated by ELFA Chief Operating Officer Ralph Petta, to further assess the proposal.

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