FASB: Less(or) is More
At its board meeting earlier this week, FASB voted to include certain lessor-related accounting issues – including but potentially not limited to the right-of-use (right-to-use) model - in its upcoming Discussion Paper (DP) on lease accounting.
FASB’s decision effectively broadens the scope of this project, originally slated to address lessee accounting only, with a later project planned on lessor accounting. The expansion in scope was decided in part due to some concerns about symmetry.
Read more about the expected timing of this project, as well as convergence issues here.