FASB and the International Accounting Standards Board (IASB) have narrowed their focus in anticipation of a vote next month on a lessee accounting model in their joint convergence project on leases.

A synthetic lease is a financing technique structured to be an operating lease for the lessee’s financial accounting purposes and a financing for U.S. federal tax purposes. Synthetic leases are most ...

On August 17, the FASB and IASB released the final version of the exposure draft on lease accounting that significantly changes the way entities account for leases. Their exposure draft, Leases, ...

The IASB, in contrast, decided on a single approach for lessee accounting. Under this approach, a lessee would account for all leases as Type A leases, recognizing amortization of the ROU asset ...

New requirements that will bring lease assets and liabilities onto company balance sheets are expected to be issued in early 2016 after FASB voted 6–1 Wednesday to send its leases standard for final ...

The Financial Accounting Standards Board has decided to defer the development of a new accounting model for lessors, saying the project will now only address lessee accounting. FASB also agreed with ...

Operating leases have long been a common mechanism for companies to access and use assets without owning them outright. Historically, many of these leases were kept off the balance sheet, limiting ...

Leases are agreements that transfer the right to use property as a temporary form of ownership or use. Leases are temporary in scope, and the property rights revert to the lessor unless the ...