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FASB proposes tweaks to lease accounting rules

Tammy Whitehouse | September 26, 2017

Just as the massive rules on revenue recognition required some tweaking as companies prepared to implement them, so apparently do the new rules on lease accounting.

The Financial Accounting Standards Board has issued a proposed update to accounting standards to clarify how the new standard on lease accounting applies to land easements. Commonly referred to as rights of way, land easements represent rights to use or access someone’s land for a specified purpose.

The FASB says companies currently account for land easements in different ways, making...

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