FASB and IASB Reach Tentative Decisions on Certain Aspects of the Joint Lease Project
Published on:
18 Dec 2009
On December 16, 2009, the FASB and IASB met to continue deliberations on the joint lease project. The boards reached tentative decisions on the following areas:
- Contingent rentals and residual value guarantees (both lessee and lessor accounting)
- Scope – intangibles and other possible exclusions
- Scope – non-core and short-term leases
The tentative decisions are summarized on the December 16, 2009, FASB/IASB Joint Meeting Action Alert on the FASB’s website. For more information, see the joint IASB-FASB project summary on the FASB’s website.