This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

FASB and IASB continue deliberating joint guidance on leases

  • FASB-IASB Image

Mar 21, 2014

At the March 18–19, 2014, joint meeting, the FASB and IASB continued redeliberating their exposure draft on leases. The boards discussed the lessee and lessor accounting models, small-ticket leases, determining lease terms, and short-term leases.

The FASB tentatively decided on a dual-recognition approach for lessee accounting, while the IASB favored a single-model approach. For lessor accounting, the boards generally agreed that a “lessor should determine lease classification (Type A versus Type B) on the basis of whether the lease is effectively a financing or a sale, rather than an operating lease”; however, the boards differed on how to assess certain types of leases.

For more information, see:

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.