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ELFA Submits Comment Letter to FASB

September 12, 2018, 07:03 AM

The Equipment Leasing and Finance Association in September filed a formal Comment Letter with The Financial Accounting Standards Board on proposed amendments to the new lease accounting standard. 

The Proposed Accounting Standards Update, Leases (Topic 842):  Narrow-Scope Improvements for Lessors, responds to three post-issuance questions:

  • the accounting for sales, use and similar taxes;
  • the accounting for other costs paid by a lessee that may benefit a lessor; and
  • variable payments when contracts have lease and non-lease components.

Read the full letter (Word document) here.

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