Lease-accounting compromise may be unraveling
A proposal that would let companies record leases in two different ways as part of a larger converged standard on lease accounting appears to be unraveling. Financial Accounting Standards Board Chairman Russell Golden said the compromise -- which would divide leases in "type A" and "type B" categories -- is problematic because of the managerial discretion involved in determining which lease falls into which category. FASB and the International Accounting Standards Board will begin negotiations on the standard, with the goal of finalizing a rule before the end of the first quarter. The Wall Street Journal (tiered subscription model)/CFO Journal blog (11/18)
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