Hitting an impasse over how to account for short-term, rental-like leases, the Financial Accounting Standards Board and the International Accounting Standards Board will regroup next week to discuss their findings after additional research on an eleventh-hour proposal.

FASB and IASB are in the home stretch of redeliberating a new accounting standard for how to account for all leases to bring them on the balance sheet and banish the bright-line distinction between operating leases and capital leases. The boards have long wrestled, however, with how to develop a straightforward method to account for leases like today's operating leases, which tend to represent short-term arrangements for limited access to a given asset bearing little resemblance to the purchase of the asset. They are trying to put the finishing touches on a revised proposal so that it can be issued for a fresh round of comments and wrapped up by 2013.