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Lease Accounting

The Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB), the two standard-setting organizations for accounting, have been engaged in a multi-year effort to converge many accounting standards. The lease accounting standards convergence project began in 2006 and is ongoing today.

Latest News
June 2, 2015
The Financial Accounting Standards Board (FASB) is expected to publish its new lease accounting standards later in 2015. The new standards will take effect most likely in late 2017 or 2018. In the meantime, prepare yourself and your clients for the changes.
September 16, 2014
NAR Government Affairs policy representatives talk about the association's efforts to prevent lease accounting changes from hurting commercial real estate.
May 31, 2013
On May 14, thirteen U.S. Senators sent a "Dear Colleague" letter to Ms. Leslie Seidman, Chairman ofthe Financial Accounting Standards Board ("FASB"), expressing concern that the FASB and the International Accounting Standards Board ("IASB") were preparing to release the latest expsoure draft on leases, but had still not released a cost-benefit analysis of the lease accounting proposal.
September 14, 2012
NAR and others have urged the Financial Accounting Standards Board and International Accounting Standards Board to rethink a lease accounting project.

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Lease Accounting Update

NAR Government Affairs policy representatives talk about the association's efforts to prevent lease accounting changes from hurting commercial real estate.