Revised Exposure Draft on Leases

The IASB and FASB have issued a Revised Exposure Draft dealing with lease accounting. The main issue still revolves around the capitalisation of previously off balance sheet leases (operating leases under the current IAS 17) in order to make risk assessment of lease commitments more consistent for users of financial reports. The revised exposure draft has evolved the accounting being proposed to now deal with real estate property differently from operating assets as well as the previous exceptions for non capitalisation of short term leases (less than 12 months). For a more detailed discussion, read the following article on the IFRS Foundation website:


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