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GAAP.RUNewsProposed IFRS on lease accounting under fire

Proposed IFRS on lease accounting under fire

Leasing industry blasts “complexity”

Author: Pat Sweet

Publication date: 26 May 2010

Leaseurope, a federation of 47 European leasing associations is calling on the International Accounting Standards Board (IASB) and Financial Accounting Standards Board (FASB) to rethink their plans on a lease accounting standard.

Leaseurope, a federation of 47 European leasing associations is calling on the International Accounting Standards Board (IASB) and Financial Accounting Standards Board (FASB) to rethink their plans on a lease accounting standard: the proposed new International Financial Reporting Standards (IFRS) lease accounting standard has been heavily criticized by the body, for reaching “unparalleled levels of complexity”.