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Leases

Background

Leasing is a global business, and differences in accounting standards can lead to considerable non-comparability. This joint IASB-FASB project seeks to improve the accounting for leases by developing an approach that is more consistent with the conceptual framework definitions of assets and liabilities. The project would result in a replacement of IAS 17 Leases.

An earlier G4+1 Study had recommended capitalising property rights inherent in all leases.

 

Current status of the project

ED/2013/6 Leases was published on 16 May 2013, with a comment deadline of 13 September 2013. Redeliberations are expected to continued in the third and fourth quarters of 2014.

 

Project milestones

DateDevelopmentComments
July 2006 Added to the IASB's agenda
19 March 2009 Discussion Paper DP/2009/1 Leases: Preliminary Views published Comment deadline 17 July 2009
17 August 2010 Exposure Draft ED/2010/9 Leases published Comment deadline 15 December 2010
21 July 2011 IASB/FASB announce intention to re-expose proposals ED originally expected in first half of 2012
16 May 2013 Exposure Draft ED/2013/6 Leases published Comment deadline 13 September 2013