NORWALK, CT—The long and winding road to a converged lease accounting standard has taken yet another twist: the International Accounting Standards Board has published an update in which it says is leaning towards proposing a single model for lease expensing. The US Financial Accounting Standards Board, for its part, favors the dual model.

Mike McLain, Transwestern’s chief accounting officer, explains the issue involved an article in the to the third quarter edition of Ask the Expert,” published shortly before the IASB issued its update.

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