The FASB is seeking comments on an exposure draft technical bulletin on intragovernmental leasehold reimbursable work agreements.
The draft intends to further explain and address accounting issues not directly covered under Statement of Federal Financial Accounting Standards 54, Leases, and other relevant statements.
FASAB consulted with affected parties to develop the draft, including Treasury and the General Services Administration.
The proposal would require customer-lessees to recognize an intragovernmental reimbursable work asset for reimbursable acquisition, construction, improvement and/or alteration costs. The comment deadline on the proposal is Nov. 4. Learn more.