There are no straight lines in nature but should there be straight lines in lease accounting, asks Brian O’Donovan

The International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) supported different approaches to a key element of their new lease accounting model in a crunch meeting in February.

This apparent disagreement will delay further their long-running lease accounting project and add to the uncertainty as to the effect of this project on the reported profits of many companies.

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