ELFA said it might withdraw support for development activity related to the lease-accounting standard. President and CEO William G. Sutton said the proposal is "fraught with difficulties" in a letter to the Financial Accounting Standards Board and the International Accounting Standards Board. "Unfortunately, since we do not believe the Boards have appropriately resolved the question of lessee cost allocation, we are seriously considering withdrawing our support for the issuance of a final standard based upon the tentative conclusions reached in the recent redeliberations," Sutton wrote.
Thursday, September 6, 2012
ELFA May Pull Support
ELFA said it might withdraw support for development activity related to the lease-accounting standard. President and CEO William G. Sutton said the proposal is "fraught with difficulties" in a letter to the Financial Accounting Standards Board and the International Accounting Standards Board. "Unfortunately, since we do not believe the Boards have appropriately resolved the question of lessee cost allocation, we are seriously considering withdrawing our support for the issuance of a final standard based upon the tentative conclusions reached in the recent redeliberations," Sutton wrote.
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