Update
FASB proposes delay in accounting standards
FASB voted on July 17 to propose delaying the effective dates for both the leases and credit losses standards. Read more.
ELFA Submits Comment Letter
In January 2019 ELFA filed a formal Comment Letter with the FASB on the Proposed Accounting Standards Update, Leases (Topic 842): Codification Improvements for Lessors. Read the letter.
New Bylined Article
ELFA has released a new article, The Silver Lining of Lease Accounting: What Organizations Should Know About the New Standard. Share this educational resources with your end-user customers.
ELFA Submits Comment Letter
In September 2018 ELFA filed a formal Comment Letter with the FASB on proposed amendments to the new lease accounting standard. The Proposed Accounting Standards Update, Leases (Topic 842): Narrow-Scope Improvements for Lessors, responds to three post-issuance questions: the accounting for sales, use and similar taxes; the accounting for other costs paid by a lessee that may benefit a lessor; and variable payments when contracts have lease and non-lease components. Read the letter.