Leases - Discussion Paper (2009)
- Exposure draft consultation
- Hocine Kebli, Ioana Kiss, Joachim Jacobs
As part of the Memorandum of Understanding published in February 2006, the IASB and FASB decided to set up a lease accounting project. At the meeting in July 2008 the boards decided to focus on lessee accounting and defer the development of a new accounting model for lessors.
The primary objective of the project is to develop a model for the recognition of assets and liabilities arising under lease contracts, and for the measurement of those assets and liabilities, that is consistent with the Framework definitions and other standards. The first step in this process was the publication of a discussion paper Leases, which was issued on 19 March 2009.
Following discussion of the feedback from constituents, in 2010 the Boards published a first Exposure Draft.