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.

IAS Plus newsletter — Boards issue preliminary views on lease accounting

Published on: 18 Apr 2009

On 19 March 2009, the International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) took a significant step toward revamping existing lease accounting rules by issuing a discussion paper (DP) outlining their preliminary views on a new accounting model.

Current lease accounting under International Financial Reporting Standards (IFRSs) and Generally Accepted Accounting Principles in the US (US GAAP) is often criticised as being too reliant on subjective judgements and rigidly defined thresholds. Many believe that such reliance has resulted in economically similar transactions being accounted for differently and has presented opportunities for entities to structure transactions to achieve a desired accounting effect.


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.