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2018

March 30, 2018 — FASB Votes to Finalize ASU on Practical Expedient for Lessor’s Separation of Lease and Nonlease Components

Deloitte Accounting Journal
March 30, 2018

FASB Votes to Finalize ASU on Practical Expedient for Lessor’s Separation of Lease and Nonlease Components

At its meeting on March 28, 2018, the FASB discussed comments received on its proposed Accounting Standards Update (ASU)1 related to a practical expedient for lessors to elect not to separate lease and nonlease components when certain conditions are met. The amendments in the proposed ASU are consistent with the tentative decisions made by the Board at its November 29, 2017, meeting.2 At this week’s meeting, the Board voted to move forward with drafting a final ASU related to the proposed practical expedient for lessors, subject to certain adjustments explained in further detail below.

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