IASB chairman Hans Hoogervorst noted in a speech given at a Ernst & Young seminar that the subject of lease accounting is a difficult area, but one where improvements are needed. "Despite what you may hear, we have not set out to kill the leasing industry." read more

JAN 25, 2012 - 8:35 am

Accounting Today reported that FASB and its parent organization, FAF, are holding a series of meetings with private company representatives to talk about FAF's proposal to create a new council. read more

JAN 16, 2012 - 8:35 am

The Journal of Accountancy reported the heads of the U.S. FASB and IASB who have been working to resolve standards differences agree that their current convergence process should be replaced by one that is more manageable and effective. read more

DEC 7, 2011 - 8:25 am

The Financial Accounting Foundation announced that Charles H. Noski, current vice chairman and former CFO of Bank of America, was appointed chairman of FASB's advisory council for a one-year term. read more

DEC 6, 2011 - 8:20 am

The IASB and FASB issued a revised draft standard for public comment to improve and converge the financial reporting requirements of IFRS and GAAP for revenue and certain related costs from contracts with customers. read more

NOV 16, 2011 - 8:25 am

CFO.com notes in an article, which includes comments by leasing industry expert Bill Bosco, the lease accounting debate rages on as FASB and IASB pore over nearly 800 public comment letters that question proposed new leasing standards. read more

NOV 3, 2011 - 8:59 am

According to research from Grant Thornton's International Business Report, 54% of global businesses are not aware of, and are therefore unprepared for, one the most significant global accounting changes in the past decade: the virtual elimination of off-balance sheet leases. read more

OCT 28, 2011 - 8:25 am

In an article that appeared on the University of Michigan Ross School of Business website, Ross professor Cathy Shakespeare thinks the U.S. is on course to adopt a hybrid way of endorsing international accounting standards. read more

OCT 17, 2011 - 9:15 am

Accounting Today reported that FASB board chairman Leslie Seidman said in an interview that re-deliberation discussions with the IASB on the leasing project would continue through late this fall with a goal of trying to conclude leasing in 2012. read more

SEP 22, 2011 - 9:45 am

CFO reports the American Institute of Certified Public Accountants has proposed that U.S.-based multinational companies should have the option to adopt international financial reporting standards. read more

AUG 18, 2011 - 9:42 am

Equipment leasing expert and industry consultant Bill Bosco provides his most recent update to monitordaily with in-depth commentary on the latest developments in the continuing debate on lease accounting standards. read more

AUG 5, 2011 - 9:31 am

In a post on its website, CFO reported that accountants and finance executives are lobbying hard for the Financial Accounting Foundation to appoint a separate board, independent of the FASB, to tailor accounting standards for private companies. read more

AUG 4, 2011 - 9:16 am

The IASB and FASB announced their intention to re-expose their revised proposals for a common leasing standard. The boards said decisions taken to date were sufficiently different from those published in the exposure draft to warrant re-exposure. read more

JUL 25, 2011 - 9:22 am

Ecologic Lessee Services, a global provider of services to corporate and nonprofit equipment lessees, said it has published a free white paper to help lessees prepare for the IFRS lease accounting changes. read more

JUL 19, 2011 - 9:33 am

CFO.com reports that a panel of CFOs and finance executives from small public companies said at an SEC roundtable that a possible switch to International Financial Reporting Standards would be "painful and costly." read more

JUL 15, 2011 - 9:35 am