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FASB plans corrections to lease, financial instrument rules

Tammy Whitehouse | June 23, 2017

Accounting standard setters are planning a series of technical corrections to big new rules on lease accounting and financial instruments, but resisted the temptation to do any further tweaking to the even bigger new rule on revenue recognition.

Staff members at the Financial Accounting Standards Board presented the board with more than 20 technical corrections to consider to standards on the recognition and measurement of financial instruments and leases in financial statements. With respect to leases, the board approved 16 separate language changes that address a... To get the full story, subscribe now.