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IASB confirms June 2010 date for lease standard exposure draft April 1, 2010

Posted by Bob Cook in Financial Planning & Analysis, Lease Accounting.
Tags: , ,

In a webcast, yesterday, the staff of the International Accounting Standards Board (IASB) confirmed that it plans to issue an Exposure Draft of the new lease accoounting standards in June of this year. The final standard is scheduled to be issued in the second quarter of 2011.

As I’ve noted previously, these standards are going to have wide-ranging impact on corporate real estate — affecting everything from strategy (own-vs-lease, lease duration) to processes (corporate approvals, cash obligation forecasting, lease administration, SOX-compliance) to staffing/training needs (financial/accounting literacy).

The IASB is creating the new standards as a joint project with the U.S.-based FASB. The new standards will apply to companies worldwide. You can learn more on the IASB’s project page.



1. Do you have your SOX-compliant portfolio plan yet? « Corporate Real Estate Strategy - April 5, 2010

[…] been writing about the impact of the new lease accounting standards to be set by FASB and IASB.  By June of this year the Exposure Draft outlining the standards will be in place with compliance likely to be […]

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