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Pressure builds on FASB as it finalizes lease standard

Tammy Whitehouse | February 17, 2016

As the Financial Accounting Standards Board dries the ink on its pending new lease accounting standard that will bring lease assets and liabilities on to corporate balance sheets, more than a dozen trade and professional groups are making an eleventh-hour appeal for FASB to exempt private companies.

FASB’s Private Company Council, where departures from GAAP for the sake of private companies are first considered, so far has not added any project to its agenda to consider any relief from the new leasing standard. The...

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