The Accounting and Auditing Policy Committee (AAPC) of the Federal Accounting Standards Advisory Board (FASAB) has proposed updates to a technical release on leases.
The AAPC is seeking public comment through Friday, June 30, on proposed updates to Technical Release (TR) 20, Implementation Guidance for Leases.
Statement of Federal Financial Accounting Standards (SFFAS) 54, Leases, becomes effective for reporting periods after Sept. 30, 2023.
The proposed updates include on conforming amendment, seven additional Q&A guidance candidates and three clarifying amendments/technical corrections to existing Q&A guidance under TR 20. Read more.