In a series of notes from recent meetings being held by the FASB and IASB with regard to the lease accounting project, Bill Bosco notes that the Boards remain at odds on the key issue of how lessees should account for all leases. read more

MAR 21, 2014 - 7:04 am

The Journal of Accountancy reported that FASB and IASB are struggling to find common ground in their efforts to create a converged standard for financial reporting on leases. read more

MAR 20, 2014 - 7:17 am

In a letter to FASB and IASB, Stephen J. Cosgrove, chairman of the Committee on Corporate Reporting, FEI writes the issue of how to account for operating leases is a pivotal issue that will likely determine the success or failure of the standard in becoming generally accepted worldwide. read more

MAR 18, 2014 - 7:37 am

Bloomberg reported that former members of FASB and other key accounting sources have voiced concerns regarding a $3 million pledge by FASB's parent to the group that oversees the IASB. read more

FEB 13, 2014 - 7:12 am

CFO magazine reported that bankers are warning that altering lease accounting could significantly change a borrower’s balance-sheet profile, possible making it look more leveraged that it actually is. read more

FEB 12, 2014 - 7:04 am

In a recent speech at a seminar in Japan, IASB chairman Hans Hoogervorst said, “We may look to simplify the distinction between type A and type B-leases – and will probably also limit the changes to lessor accounting.” read more

FEB 7, 2014 - 7:14 am

The quality of data, complexity of compliance and lack of confidence in IT systems are the main concerns for companies ahead of the finalizing of a new lease accounting standard, according to a new Deloitte survey. read more

JAN 30, 2014 - 7:06 am

FASB and the Private Company Council announced they issued the final Private Company Decision-Making Framework. FASB also issued FASB Accounting Standards Update No. 2013-12. read more

DEC 27, 2013 - 7:04 am

In an update on the lease accounting project, Bill Bosco says the FASB and IASB should acknowledge that the real objective is to capitalize operating leases, not to make wholesale changes. read more

DEC 19, 2013 - 7:14 am

A Wall Street Journal senior editor reports in a blog post that a proposed compromise on how to record leased assets appears to be falling apart as investors and companies have raised concerns it’s too complex. read more

NOV 19, 2013 - 6:25 am

Compliance Week reported that credit analysts have told FASB and IASB they generally support putting leases on the balance sheet, but equity analysts had some reservations. read more

OCT 2, 2013 - 6:20 am

The Oil & Gas Journal reported that operators, drilling contractors and their trade associations have voiced concern about proposed accounting changes they fear will complicate contractual relationships, confuse investors and raise administrative costs. read more

OCT 1, 2013 - 6:10 am

The Journal of Accountancy reported that the converged proposal on financial reporting for leases faces significant opposition from businesses around the globe. read more

SEP 19, 2013 - 6:35 am

Additional complexities for accountants who deal with a large number of operating leases will arise from the IASB’s proposals, said the Global Forum for Corporate Reporting at the Association of Chartered Certified Accountants. read more

SEP 16, 2013 - 6:00 am

The Wall Street Journal reported that Russell Golden, FASB's new chairman, said in a recent speech that he aims to reduce complexity and reduce delays that slow standard-setting, while maintaining a commitment to keep U.S. standards comparable with international rules. read more

SEP 13, 2013 - 7:25 am