FASB and IASB seek feedback on lease-accounting proposal

05/17/2013 | Wall Street Journal, The

Companies will have to carry leases, except very short ones, on their balance sheet as debt if a proposal by the Financial Accounting Standards Board and the International Accounting Standards Board is approved. Currently, firms can keep most leases off their books, effectively understating the true size of indebtedness. The FASB and the IASB will accept comments on the proposal through Sept. 13.

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