FASB / IASB - Proposed changes to accounting for leases 

June 24:  The FASB and IASB recently issued revised joint exposure drafts on proposed changes to the accounting for leases that, if finalized as proposed, would significantly change how lessees and lessors account for and report leasing arrangements in their financial statements.

Comments on the 2013 exposure drafts are due by September 13, 2013. The FASB and IASB plan to hold public roundtable meetings after the comment period, with a goal of issuing a final standard in 2014.

Read a June 2013 report [PDF 1 MB] prepared by KPMG LLP: Issues In-Depth: Implications of the Revised FASB and IASB Exposure Drafts on Lease Accounting

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