December 8, 2009
FASB/IASB to Focus on Alternative Accounting for Leases by Lessors of Investment PropertyOn December 4, 2009, the Financial Accounting Standards Board (FASB)/International Accounting Standards Board (IASB) (FASB/IASB or Boards) staff issued a paper that discusses alternatives for accounting for leases by lessors of
investment property and provides the staff's recommendations. The recommendations integrate standards for reporting "investment property" (i.e. real estate held to earn rentals or for capital appreciation or both) in the statement
of financial position, as well as reporting rental income in the statement of comprehensive income.
FASB Ratifies EITF Consensus on Reporting Elective Stock/Cash DividendsOn December 2, 2009, the FASB ratified the Emerging Issues Task Force (ETIF) consensus reached on November 19 that calls for the stock portion of an elective stock/cash dividend to be reported as a stock issuance. As a result of this
final decision, companies will be required to report the stock portion of the dividends prospectively in per share amounts under the FASB's current earnings per share guidance. This requirement will be effective for interim and annual
periods ending on or after December 15, 2009 and will be applied on a retrospective basis.
Boards to Discuss Staff Recommendations for Reporting Discontinued OperationsThe Boards' staff is recommending the following converged definition of a discontinued operation, which we believe would reduce considerably the number of dispositions currently reported as discontinued operations under U. S. GAAP:
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Highlights
- FASB/IASB to Focus on Alternative Accounting for Leases by Lessors of Investment Property
- FASB Ratifies EITF Consensus on Reporting Elective Stock/Cash Dividends - Boards to Discuss Staff Recommendations for Reporting Discontinued Operations Contact
For further information, please contact
George Yungmann at gyungmann@nareit.com or
Sally Glenn at sglenn@nareit.com.
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