FASB Discusses Leases Transition Requirements and Disclosures of Supplier Finance Programs

Leases (Topic 842): lessors — leases with variable lease payments — The Board tentatively decided that entities that have not adopted the new leases standard “on or before the issuance date (not effective date) of the forthcoming final Update should follow the transition requirements in paragraph 842-10-65-1.”

Disclosure of supplier finance programs involving trade payables — The Board tentatively decided to require entities to disclose the size and key terms of supplier financing arrangements made with finance providers related to trade payables.