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Lease Accounting

Lease Accounting Update

On May 14, thirteen U.S. Senators sent a "Dear Colleague" letter to Ms. Leslie Seidman, Chairman of the Financial Accounting Standards Board (FASB), expressing concern that the FASB and the International Accounting Standards Board (IASB) were preparing to release the latest exposure draft on leases, but had still not released a cost-benefit analysis of the lease accounting proposal.

Potential rule changes may affect how lease contracts are treated for accounting purposes, and hurt owners of commercial property.

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