United Kingdom

Details

  • Service: Audit
  • Type: Business and industry issue
  • Date: 31/08/2011

Financial Reporting Update July - August 2011 

Financial reporting updates
Lease accounting: proposals to be re-exposed.
The IASB and FASB have announced that they will issue a formal re-exposure of the leasing proposals. The key changes to the original proposals include the application of a single ‘receivable and residual’ model by lessors and the exclusion of investment property measured at fair value from the scope of the proposed leasing standard.