Second converged leasing draft expected in Q1 2013

12/10/2012 | Accounting Today

The second converged exposure draft on the converged leasing project will be released in the first quarter of 2013, says Leslie Seidman, chair of the Financial Accounting Standards Board. "We are substantially converged on the leasing proposal from top to bottom," Seidman says. The second draft will require that all leases go on the balance sheet of the lessees, unless they are under one year.

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