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FASB proposes narrow-scope amendments to lessor accounting guidance

  • FASB document Image

Aug 13, 2018

The FASB has issued a proposed Accounting Standards Update (ASU), “Narrow-Scope Improvements for Lessors.”

The proposed ASU addresses concerns about the following related to lessors’ application of the new leasing standard (ASC 842):

  • Certain taxes collected from lessees (e.g., sales taxes and other similar taxes).
  • Lessees’ direct payment of certain lessor costs.
  • Allocation (rather than recognition) of variable payments for contracts with lease and nonlease components.

Comments on the proposed ASU are due by September 12, 2018. For more information, see Deloitte's journal entry as well as the press release and proposed ASU on the FASB’s Web site.

On August 20, 2018, the FASB issued for comment Proposed Taxonomy Improvements related to this proposed ASU. Comments on the proposed taxonomy improvements are due by September 12, 2018.

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