A synthetic lease is a financing technique structured to be an operating lease for the lessee’s financial accounting purposes and a financing for U.S. federal tax purposes. Synthetic leases are most ...

FASB and the International Accounting Standards Board (IASB) have narrowed their focus in anticipation of a vote next month on a lessee accounting model in their joint convergence project on leases.

On August 17, the FASB and IASB released the final version of the exposure draft on lease accounting that significantly changes the way entities account for leases. Their exposure draft, Leases, ...

The Financial Accounting Standards Board has decided to defer the development of a new accounting model for lessors, saying the project will now only address lessee accounting. FASB also agreed with ...

The Financial Accounting Standards Board is considering a change in its leases standard to address leases that are under the common control of related-party businesses as FASB's parent prepares to ...

Lessees will be required to recognize assets and liabilities on the balance sheet for the rights and obligations created by all leases with terms of more than 12 months under a new financial reporting ...

Determining the appropriate discount rate under ASC 842 and IFRS 16 has proven to be more challenging than originally thought. While conceptually the accounting guidelines are straightforward, once ...

Leases are agreements that transfer the right to use property as a temporary form of ownership or use. Leases are temporary in scope, and the property rights revert to the lessor unless the ...