Beyond the GAAP no. 87 - March 2015

As rumoured over the past few weeks, the FASB is to publish a draft amendment proposing to defer the mandatory effective date of Topic 606, the US equivalent of IFRS 15. This decision will put pressure on the IASB to decide whether it will also defer the effective date. Meanwhile, much discussion continues over potential amendments to the two standards.

As regards the Leases project, the IASB has asked its staff to devote themselves to drafting the final standard. The Board has now finished its redeliberations, and is still hoping to publish the standard by the end of 2015.

At this key stage in the proceedings, Beyond the GAAP has decided to present a full overview of the decisions taken by the Board since the publication of the second exposure draft in 2013. We hope that this review will give readers a better understanding of the impact that the new standard on lease accounting will have on financial statements.


Index - March 2015
Beyond the GAAP No. 87 - March 2015