With the comment deadline approaching for the latest draft of the lease accounting proposals from the Financial Accounting Standards Board and the International Accounting Standards Board, more groups are weighing in with criticism.
The controversial proposals would require, among other things, for companies to begin carrying leases on their balance sheets. FASB’s own Investor Advisory Committee has reportedly said that the current exposure draft does provide an improvement over current U.S. GAAP and is overly complex. Instead it recommended that FASB instead required improved disclosures.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access