PwC Point of View on FASB and IASB Proposal For Lease Accounting

Posted by Juliette Gibson on Wed, Oct 09, 2013 @ 04:13 PM

The Financial Accounting Standards Board (FASB) and International Account Standards Board (IASB) have proposed that largely all leases be reported on a company's financial statements.  The proposal requires that leases be reported on the balance sheet.  In the income statement, leases would be recognized under a dual model as either a financing or ratably over the lease term.  

This PwC Point of View offers some great insight and analysis on the topic and how Income Statement recognition could be addressed.

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Tags: IASB, best-practice, lease accounting, accounting, FASB