Defining Issues | August 2018
KPMG reports on the FASB’s proposed ASU on narrow-scope improvements for lessors
KPMG reports on the FASB’s proposed ASU on narrow-scope improvements for lessors. The proposed amendments address operational issues for lessors related to sales taxes, lessee payments of lessor costs, and variable payments in contracts with lease and non-lease components.
The proposed ASU would:
Defining Issues
FASB approves changes to lessor accounting for sales and similar taxes and certain lessor costs
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FASB approves targeted improvements to leases standard
The amendments create an additional transition method, and a lessor practical expedient for separating lease and non-lease components.
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