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

Posted by Juliette Gibson on October 9, 2013

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