FASB adds Accounting Standards for leases to its agenda.The Financial Accounting Standards Board Financial Accounting Standards Board (FASB) Board composed of independent members who create and interpret Generally Accepted Accounting Principles (GAAP). has added to its agenda a project to reconsider the current accounting standards for leases. The goal of that project is to ensure that investors and other users of financial statements are provided useful, transparent and complete information about leasing transactions in the financial statements. The decision to add a leasing project, which will be conducted jointly with the International Accounting Standards Board  An editor has expressed concern that this article or section is .Please help improve the article by adding information and sources on neglected viewpoints, or by summarizing and , reflects the board's concern that the current accounting in this area does not clearly portray the resources and obligations arising from lease transactions. The FASB FASB See: Financial Accounting Standards Board FASB See Financial Accounting Standards Board (FASB). and IASB IASB See International Accounting Standards Board (IASB). agreed that the first major milestone relating to this project will be a Preliminary Views document, which they plan to issue for constituent comment in 2008. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion