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- Title
THE TAX IMPORT OF THE FASB/IASB PROPOSAL ON LEASE ACCOUNTING.
- Authors
Mundstock, George
- Abstract
The article focuses on the new financial accounting rules for simple leases suggested by the U.S. Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB). It reviews the proposal and considers the impact of these rules on the U.S. federal, state, and local tax-related matters, and its acceptance as the U.S. income tax law. It states that this proposal will advance the U.S. tax law by providing an explicit tax accounting for lease transactions.
- Subjects
UNITED States; TAX accounting -- Law &; legislation; ACCOUNTING; LEASES; FINANCIAL Accounting Standards Board; INTERNATIONAL Accounting Standards Board; INCOME tax laws
- Publication
Virginia Tax Review, 2013, Vol 32, Issue 3, p461
- ISSN
0735-9004
- Publication type
Article