The New York Times reports that the new lease accounting proposal backs off from some of the most controversial aspects of an earlier version and notes there will likely be considerable delay in making the rules effective, probably until 2017. read more

MAY 17, 2013 - 6:30 am

The IASB and FASB today published for public comment a revised exposure draft outlining proposed changes to the accounting for leases. read more

MAY 16, 2013 - 6:35 am

Leaseurope released an announcement stating that new proposals to change to IFRS lease accounting may hinder much-needed EU economic growth. read more

MAY 16, 2013 - 6:30 am

Accounting Today writes that 15 of the largest banks in the U.S. have written a letter to the chairman of the FASB and the IASB encouraging them to resolve their differences over credit loss standards. read more

MAY 15, 2013 - 6:35 am

Lease accounting expert Bill Bosco reported that FASB staff says barring any last minute issues the lease project exposure draft will be issued on May 16. read more

MAY 13, 2013 - 6:35 am

Russell G. Golden was named as the next chairman of the Financial Accounting Standards Board, effective July 1, 2013. He will succeed current FASB Chairman Leslie F. Seidman, whose term ends on June 30. read more

APR 24, 2013 - 6:35 am

FASB announced it has posted on its website a podcast on its proposal to improve financial reporting about current expected credit losses. read more

APR 19, 2013 - 6:20 am

Bill Bosco, lease accounting expert and president of Leasing 101, writes that FASB on April 10 tentatively decided to move forward with issuing an exposure draft on lease accounting next month despite concerns about the financial reporting complexity that may result from the proposed model. read more

APR 12, 2013 - 7:35 am

According to Compliance Week, FASB voted 4-3 to issue the proposed accounting standards update it has developed after years of re-deliberating its 2010 proposal. read more

APR 11, 2013 - 7:25 am

CFO notes, with insight and commentary from Bill Bosco, that businesses may have to wait a while longer for clarity on how their staff members will account for equipment leases under the lease accounting project. read more

APR 3, 2013 - 6:30 am

FASB said it has extended the deadline to May 31, 2013 for comments regarding its proposal on reporting expected credit losses on loans and other financial assets. read more

MAR 29, 2013 - 7:25 am

The FASB has posted a FAQ document on its website designed to educate those interested in the standard the board is developing on expected credit losses in its financial instruments project. read more

MAR 27, 2013 - 7:15 am

The Financial Accounting Standards Board will join the Accounting Standards Advisory Forum, the new advisory group for the International Accounting Standards Board, the Financial Accounting Foundation said. read more

MAR 20, 2013 - 7:20 am

Approval of a FASB proposal on the treatment of credit losses for loans and other financial assets could eventually force U.S. banks to book expected losses early, putting pressure on reserve levels and reported earnings, according to Fitch Ratings. read more

MAR 14, 2013 - 7:30 am

In a post on Investopedia.com, the author notes that the convergence process has not been an easy task, mostly because of the differences in approach between the two accounting bodies. read more

MAR 8, 2013 - 7:25 am