FASB Discusses Discount Rate for Lessees That Are Not Public Business Entities

At its September 15, 2021, meeting, the FASB discussed its proposed Accounting Standards Update (ASU), Discount Rate for Lessees That Are Not Public Business Entities, and made decisions related to (1) measurement and disclosures, (2) transition and effective date, (3) transition disclosures, (4) weighted-average discount rate disclosures, and (5) analysis of costs and benefits. The Board directed its staff to begin drafting a final ASU for a vote by written ballot.