According to the Wall Street Journal, U.S. and international accounting rule makers are getting closer to a final version of thier proposed lease accounting overhaul, but the two boards are unlikely to use the same lease expensing model in their final rules.
 
The Wall Street Journal reports the International Accounting Standards Board this week published an update saying it has tentatively decided to propose a single model for lease expenses, rejecting a 2013 compromise with the U.S. Financial Accounting Standards Board for a dual model amid concerns that it is too complex.
 
To read the full The Wall Street Journal report, click here.

To download the full IASB August 2014 Project Update, click here.