4/26/2012

Meetings held Feb. 28 and 29 about the Financial Accounting Standards Board and the International Accounting Standards Board's lease-accounting project focused on changing the lessee cost pattern to a straight-line cost pattern. The majority of comment letters to an exposure draft called for a straight-line cost pattern for operating leases. However, the boards could not agree on an approach. The next step is more outreach by staff. Such outreach meetings will run through this month and further delay issuance of another exposure draft. Read more.

Full Story:
elfaonline.org

Related Summaries