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FASB publishes final lease accounting standard

Tammy Whitehouse | February 25, 2016

Marking another milestone in accounting history, the Financial Accounting Standards Board has published its final standard requiring public companies to bring assets and liabilities associated with leasing on to corporate balance sheets in 2019.

Golden-russ-0814FASB’s Accounting Standards Update 2016-02 requires all companies that lease any kind of asset -- from real estate to heavy equipment to office copiers -- to recognize leased property as an asset they have a right to use and a liability that they must settle over time. “The new guidance responds to requests from investors and other financial statement users for a more faithful...

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