IASB and FASB propose changes to lease accounting.

The International Accounting Standards Board and the Financial Accounting Standards Board published for public comment a revised exposure draft outlining proposed changes to the accounting for leases. The revised draft proposes a dual approach to the recognition, measurement and presentation of expenses and cash flows arising from a lease. For most real estate leases, a lessee would report a straight-line lease expense in its income statement. For most other leases, such as equipment or vehicles, a lessee would report amortization of the asset separately from...