The accounting standards setting group in the United States is known as the Financial Accounting Standards Board (FASB) and consists of seven board members who are appointed to five year terms. The most recent appointment was Thomas J. Linsmeier, and CFO.com has a pretty good interview with him on some of the issues currently facing [...]
Tag: lease ↓
FASB’s new man talks advanced accounting topics
July 9th, 2006 · No Comments
Category: Accounting
Tags: convergence, fair value, FASB, GAAP, IFRS, lease, standards
Lease accounting to get overhaul
June 5th, 2006 · 1 Comment
Apparently FASB is going to overhaul the US GAAP for leases. I’m not sure what exactly is going to be changed, or why it needs changing, but it’ll be interesting to see. Of course, Canadian standards are moving towards harmonization with International Financial Reporting Standards (IFRS), so we might not see Canada following the US [...]
Category: Accounting Standards
Tags: capital, FASB, IFRS, lease, operating, standards
Does the media understand public accounting?
June 4th, 2006 · 1 Comment
The short answer is no. Here is a story from the Associated Press that claims the FASB is going to “tackle the thorny question of accounting for leased equipment and property.” Excuse me? Have we just been ignoring leases until this point? Does any journalist do research any more? Lease accounting isn’t new, although it [...]
Category: Accounting
Tags: Accounting, FASB, journalism, lease, media, options
