FASB Wants to Make Sure You're Clear On New Lease Rules

In case you have questions related to this new FASB/IASB lease accounting thing, some of which could be: don't you have better things to do, is this the most important thing you could find to mess with and/or is there a reason why you decided to shuffle these particular deck chairs around on the Titanic?

Proposed Changes to Lease Accounting

The Financial Accounting Standards Board (FASB) is pleased to announce an upcoming webcast to discuss the Exposure Draft, Leases, which was issued on August 17, 2010. The webcast is scheduled for Thursday, October 28, 2010, from 11:00 a.m.–12:00 p.m., and will include an overview of the changes to lease accounting proposed by the FASB and the IASB in their joint leases project.

Panelists Larry Smith, Kevin Stoklosa, and Danielle Zeyher will discuss the Exposure Draft and some initial stakeholder reactions gathered as part of the Boards’ outreach activities. Larry Smith is a member of the FASB, Kevin Stoklosa is an FASB Assistant Director, and Danielle Zeyher is an FASB Project Manager.

More information about the Boards’ leases project is available on their websites www.fasb.org and www.ifrs.org.

The live webcast is offered free of charge. Viewers will have the opportunity to email questions to panelists during the event.

The FASB will archive the live webcast on the FASB website for access by the public. Register for the live or archived webcast.

I'll be on the road so am hoping someone else will volunteer to attend and ask the "didn't you have anything better to do?" question. Just sayin.

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.


Anonymous said...

I'd like to know if they have rules at the cftc..?

Dominant Social Theme: Please don't look at the man behind the curtain.

Free-Market Analysis: We are well aware of the corruption that inevitably arises when regulatory democracies persist and like tumors begin to swell. The United States is perhaps the world's most powerful regulatory democracy, and likely its most icily corrupt. Nevertheless, it is absolutely startling to find a senior judge (see article excerpt above) at one of America's most important financial regulatory agencies – the Commodities Futures Trading Commission – bluntly accusing a former CFTC Chairwoman (Wendy Gramm, wife of former Senator Phil Gramm) and a fellow judge of deliberate malfeasance, apparently over decades. Sub dominant social theme: "This kind of thing doesn't happen in the US!"