IASB and FASB agree on lease accounting approach.

• Position: NEWS

The International Accounting Standards Board and FAST agreed on an approach lor accounting for lease expenses as part of a project to revise lease accounting-in international Financial Reporting Standards and [IS. Generally Accepted Accounting Principles. The boards previously agreed that leases should be recorded on the balance sheet.2012-11 but have continued to discuss the classification and pattern of. expenses in the income statement. In the decision eventually reached, the hoards...