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.

IFRS industry insights — The leases project — An update for the shipping industry (Issue 2)

Published on: Apr 28, 2011

During April 2011, the IASB and FASB continued their discussions on the leases project and made a number of tentative decisions that differ from the proposals in the exposure draft (ED) that was issued last year.

Specifically, the boards reached tentative decisions on the definition of a lease, separating lease and nonlease components, and the pattern of expense recognition. Also, the boards reversed its previous decision on variable lease payments. These are some of the topics that shipping industry respondents expressed concern over in their comment letters on the ED.

In the second part of our IFRS Industry Insights series for the shipping industry, we discuss these topics and the affect the tentative decisions may have on the shipping industry.

Download

Related Topics

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.