FASB / IASB: Lease accounting discussions near completion

FASB/IASB: Lease accounting discussions near completion

With the completion of the IASB’s March meeting, other than any minor clean-up issues, both the FASB and IASB have said they are finished building their new lease accounting standards.

Related content

They have told their staff to begin writing the final standards. The standards will contain numerous points of divergence—the most significant of which relate to lessee accounting. Neither has decided when the new standards will become effective. However, they plan to issue their final standards by the end of this year.


Read a March 2015 report [PDF 1.7 MB] prepared by KPMG LLP: Defining Issues: Lease Accounting Discussions Near Completion

© 2017 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Request for proposal



KPMG's new digital platform

KPMG's new digital platform