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Article: FASB to reconsider lease accounting standards.(NEWS)(Financial Accounting Standards Board)(Brief article)
- Article from:
- Strategic Finance
- Article date:
- August 1, 2006
CopyrightCOPYRIGHT 2006 Institute of Management Accountants. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Financial Accounting Standards Board (FASB) has added a project to its agenda to reconsider the current accounting standards for leases. The Board says "the goal of the project is to ensure that investors and other financial statement users are provided useful, transparent, and complete information about leasing transactions in the financial statements.* It will conduct the project jointly with the International Accounting Standards Board (IASB).
Before making the decision, the Board said it talked with its constituents, including the Financial Accounting Standards Advisory Council (FASAC), the User Advisory Council (UAC), and the staff of the Securities & ...