Accounting alerts: #2 2015
IASB Leases project update
In March 2015, the IASB issued a Project Update Practical implications of the new Leases Standard. This Project Update summarises the IASB’s lessee accounting model and also provides a comparison to the model developed by the US standard setter, the FASB. It also highlights some possible effects of the changes to lessee accounting.
Financial reporting is undergoing rapid change, particularly with the IASB finalising a number of projects effective over the next few years. The need to be kept informed of the latest developments has never been more important.
Our Accounting Technical team produce this series of 'Heads Up' newsletters to keep our clients up-to-date on new pronouncements, emerging issues and uncertainties in interpretation in financial reporting.
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