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.

For more information on the new standard, visit ELFA's Lease Accounting page.