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FASB Sets 2019 Effective Date on Lease Standard

Tammy Whitehouse | November 13, 2015

A new accounting standard on leasing will take effect in the United States in 2019 at the same time that companies following international accounting standards will also adopt similar requirements.

The Financial Accounting Standards Board has finalized its deliberations on how to require companies to bring lease obligations into financial statements and plans to issue the final rule in early 2016, a slight delay from its planned fourth-quarter release. The board determined it will be effective for public companies in annual and interim periods beginning after Dec. 15, 2018, while private companies will have an extra year.

The International Accounting Standards Board...

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