On August 17, 2010, the International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) published for public comment joint proposals to improve the financial reporting of lease contracts. The proposals are one of the main projects included in the boards’ Memorandum of Understanding. The exposure draft released by the FASB was issued as a proposed Accounting Standards Update (ASU) to the Codification.

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The FASB is working on an exposure draft that would significantly revamp the way financial statements are presented. Financial statements would be comprised

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On June 29, 2010, the International Accounting Standards Board (IASB) issued for public comment an exposure draft on the fair value measurement of Level

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The spring 2010 AICPA IFRS Member Readiness Survey results were released. Don Applegarth writes that the survey indicates progress in preparing for the eventual migration toward IFRS.

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For years, the number of accounting rules for capital-versus-operating leases has continued to grow and become more and more complex. How many times has a leasing company told you, “This lease qualifies as a capital lease,” only to have your auditors tell you it doesn’t?

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