AICPA proposes change in pending standard for leases

10/16/2013 | Journal of Accountancy online

The Financial Accounting Standards Board and the International Accounting Standards Board should adopt a different method for determining whether a lease is classified as a Type A or Type B lease under their proposed lease-accounting standard, says the American Institute of Certified Public Accountants' Financial Reporting Executive Committee. The group wants to see a dividing line between the two types of leases that is based on the economics of the lease, not based on property.

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