The ELFA released an article by Bill Bosco that presents feedback received in comment letters and roundtable meetings regarding the second lease accounting Exposure Draft and summarizes comments raised in opposition to the proposed lease accounting changes.

Bosco noted in the article “There is a good chance that many of ELFA’s key advocacy issues, including the straight line lessee P&L, preserving current GAAP as the foundation of the new standard and reducing complexity and onerous lessee compliance costs will be addressed in the Boards’ meetings in 2014.”

To read the full article click here.