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IASB Decides on Single Lease Model

Tammy Whitehouse | August 11, 2014

In another big blow to convergence, the International Accounting Standards Board has decided to return again to the notion of having a single model for all leases to bring them on the balance sheet and reflect their costs in the income statement.

The IASB has updated its current project documents on its effort to revise lease accounting to indicate the board has decided to abandon the dual-model approach jointly proposed with the FASB in 2013. Under that approach, accounting rules would have reflected differences between real estate and equipment leases to reflect views held by some that they are economically different transactions. Ultimately, IASB determined that view is not far-reaching enough to codify it into a new accounting standard.

“On the basis of feedback received,...

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