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Saturday 25 October 2014

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 2012 targeted outreach on the subsequent measurement of ROU assets


In April/May 2012, the Board and the staff conducted targeted outreach regarding the Board’s tentative decisions on the proposed lessee accounting model. This was in response to continuing concerns raised by constituents about the pattern of lease expense recognition resulting from that lessee accounting model. The primary objective of the outreach was to assess the potential costs and benefits of the different lessee accounting approaches and the usefulness of the resulting accounting information. At meetings with lessors, we also asked about any possible implication for lessor accounting arising from those alternative lessee approaches. Approximately 100 users, preparers, and auditors of financial statements from various backgrounds (such as airline, advisory, automobile manufacturing, defence, hospitality, industrial goods, oil and gas, pharmaceuticals, retail, telecom, and utility, industrial equipment) participated in the outreach undertaken in April and May 2012.

Click here to read a summary of feedback received during outreach activities in April/May 2012.