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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
May 25, 2012
Reps. Sherman (D-CA) and Campbell (R-CA) sent a bipartisan letter signed by 58 other lawmakers to the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) urging the accounting standard setters to conduct a comprehensive economic analysis of its recent lease accounting proposal before making a final rule.
May 7, 2012
A coalition of real estate and other business organizations (including NAR) wrote to the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) reaffirming their calls for an economic impact study, extensive field testing, and full re-exposure of the entire lease accounting proposal — with the goal of creating a standard that will meet the tests of the marketplace and fulfill the needs of all stakeholders.
August 30, 2011
In just about a week, Congress returns to Washington. NAR Treasurer Bill Armstrong highlights three commercial issues they must address to ensure the commercial market can recover as quickly as possible: lease accounting, liquidity, and term extensions.
April 26, 2011
In the April 26, 2011, edition of the commercial podcast, 2011 NAR Treasurer Bill Armstrong reports on three important wins REALTORS® gained recently concerning lease accounting rules, refinancing commercial loans, and the repeal of the 1099 rule.

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Video

Lease Accounting Update

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