FASB, IASB Reach Tentative Decisions on Aspects of Lease Accounting

The Financial Accounting Standards Board and the International Accounting Standards Board announced progress in their ongoing, high-profile convergence project on leases. Although an exposure draft hasn’t been released, the boards met this week and reached tentative decisions regarding cancelable leases, and revenue recognition and disclosure for lessors with leases of investment property.

http://www.journalofaccountancy.com/web/20114910.htm