FASB votes to proceed with lease proposal distinguishing equipment from property

04/29/2013 | JournalofAccountancy.com

The Financial Accounting Standards Board has approved a proposal to require that all leases be reported on balance sheets, to be converged with the International Accounting Standards Board model. The proposal would require a separate accounting of property leases and leases for equipment and vehicles. The lease proposal is expected to be released this month for public comment.

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