The International Accounting Standards Board (IASB) is meeting today and tomorrow in Connecticut to discuss final decisions on the proposed new lease accounting standards. The objective of the board is to reach decisions on the lessee accounting model, the lessor accounting model, consideration of possible ways of providing cost relief for small-ticket leases, definition of lease term and the short-term lease exemption. Click here for the agenda By way of background, the Lease Accounting Project from IASB and its US counterpart the Financial Accounting Standards Board (FASB) intends to bring all operating leases more than 12 months in length onto lessee balance

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