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FASB and IASB Publish Lease Questionnaires

Posted 3:04 PM by

In August 2010, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) published joint proposals to improve the financial reporting of lease contracts for public comment. The proposals could have a direct effect on those operating in the manufacturing and distribution industries. 

The boards are currently conducting fieldwork to identify both the costs and benefits of their proposals and to ensure the proposals are operational. As part of their fieldwork, the boards have published questionnaires to assist in their assessment. Completing the questionnaires does not require knowledge of the boards' proposals. For further detail, see both the press release and the questionnaires

The deadline to complete the questionnaires is Thursday, September 30, 2010.

About the Author
Jason Patch is a partner in Katz, Sapper & Miller’s Audit and Assurance Services Group and leads the firm’s Manufacturing and Distribution Services Group. Jason works with clients to ensure accurate financial reporting, keeping an eye on their bottom line, helping them avoid risk, and maximizing efficiencies. Connect with him on LinkedIn.

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