IASB, FASB form leasing project, create working group.IASB IASB See International Accounting Standards Board (IASB). and FASB FASB See: Financial Accounting Standards Board FASB See Financial Accounting Standards Board (FASB). have initiated a joint leasing project to discuss and reconsider existing lessor One who rents real property or Personal Property to another. A lessor of land is a landlord. Cross-references Landlord and Tenant. lessor n. the owner of real property who rents it to a lessee pursuant to a written lease. and lessee One who rents real property or Personal Property from another. A lessee of land is a tenant. Cross-references Landlord and Tenant. lessee n. the person renting property under a written lease from the owner (lessor). accounting standards. A working group, which will include auditors, preparers, financial statement users, subject matter experts, among others, will give professional opinions on projects conceptualized by the boards and board staff. IASB and FASB are seeking nominations, due Sept. 30, 2006, for the working group. For more, visit www.fasb.org/project/leases_working_group_invite.shtml. |
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