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FASB agrees to simplifications to ease into new lease rule

Tammy Whitehouse | December 4, 2017

The lease accounting standard is about to get easier for companies to adopt when it takes effect Jan. 1, 2019, but that doesn’t mean companies should slow their adoption preparations.

The Financial Accounting Standards Board has decided it will issue a proposed update to accounting standards that would provide some optional transition relief for companies as they prepare to adopt the new requirements to bring virtually all leases on to corporate balance sheets.

The simplification will allow companies to apply the new lease accounting requirements on a...

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