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Lease Accounting Debate Continues, Boards Struggle to Find Common Ground

March 20, 2014, 07:00 AM
Filed Under: Regulatory News

According to a report in the Journal of Accountancy, FASB and the IASB are still struggling to find common ground in their efforts to create a converged standard for financial reporting on leases.

During a Tuesday meeting at FASB’s headquarters in Norwalk, Conn., the two boards came to different conclusions in preliminary votes on financial reporting guidance for lessees and for lessors and the boards did not come to the same answer on either lessee or lessor accounting, according to the Journal of Accountancy article.

To read the full Journal of Accountancy article, click here.

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