During the outreach events the IASB and the FASB asked investors and analysts three main questions about the proposals in the ED/2013/6 Leases which was published in May 2013:

• Do leases create assets and liabilities for a lessee and, if so, should they be recognised on a lessee’s balance sheet?
• What are your views on the proposed changes to a lessee’s income statement?
• What are your views on the proposed note disclosure package?

On the balance sheet question the credit analysts and analysts consulted within the credit rating agencies generally supported the changes proposed to a lessee’s balance sheet while the views of equity analysts were more mixed.

Regarding the income statement proposals most, but not all, investors and analysts consulted agreed that there are economic differences between most leases of real estate and leases of equipment and vehicles and understand the rationale behind the dual approach proposed. Most of those who supported the balance sheet proposals, and yet disagreed with the dual approach in the income statement, still support the project overall. They are willing to accept the proposals in the income statement to achieve what they consider to be an improvement to financial reporting.

Not all investors and analysts consulted expressed views on the disclosure proposals. Of those who did, there was general support for those proposals. However, some investors and analysts suggested not changing the recognition and measurement of leases at all, but only improving note disclosures.

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