Heads Up: Proposed ASU Revamps Lease Accounting
Volume 17, Issue 27
The attached issue of Heads Up discusses the exposure draft (ED), Leases, issued by the FASB and IASB. The ED, released by the FASB as a proposed Accounting Standards Update (ASU), creates a new accounting model for both lessees and lessors and eliminates the concept of operating leases. The proposed ASU, if finalized, would converge the FASB’s and IASB’s accounting for lease contracts in most significant areas.
Read more in the file attached below or visit the Heads Up Archive for past issues.
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