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Truck Renting and Leasing Association

The unified voice for truck renting and leasing


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TRALA to Host Webinar on Revised FASB/IASB Exposure Draft

TRALA will be holding an informational webinar on the revised FASB/IASB exposure draft that was released today. Please join us on Thursday, May 30, 2013 at 3PM ET.
Today the FASB and IASB have jointly issued a revised Exposure Draft revealing new proposed standards for lease accounting. Today's action follows the release of a first version of an Exposure Draft in August 2010. TRALA, its members and other leasing and lessee organizations aggressively commented on the 2010 Exposure Draft, forcing the FASB and IASB to reconsider some of their initial proposals and eventually scrap the first Exposure Draft and begin working on a new draft, resulting in the Exposure Draft released today. A copy of the new Exposure Draft can be found by clicking here: May 16, 3013 Exposure Draft.
 

Several revisions from the 2010 Exposure Draft were made in response to TRALA's comments, including the decision to continue to treat short-term rentals (1 year or less) under the current standards; easier accounting for contingent rents without estimations of variables; simpler incorporation of renewals into definition of lease terms. However, there are still provisions that TRALA intends to fight, including the front-loading of costs in the amortized accounting model for vehicle leases. Comments on the new Exposure Draft are due on September 13, 2013. TRALA will be working with its FASB Working Group to draft industry-wide comments, and will also be providing its members with detailed information on how to submit company-specific comments in the coming weeks.

PARTICIPANT  INSTRUCTIONS
Phone
  • Call 1-866-961-8491 about 5-10 minutes prior to the actual start time.
  • Enter your PIN 111222
  • Once connected to the conference, you will hear music on hold until the conference is started, or be connected directly to the conference if it has already begun.
  • During the conference, you will be in listen-only mode, until such time as you are enabled to ask questions.
 
Web
  • Go to http://web.beaconlive.com 
  • On the Join a Meeting side of the login page, enter Meeting Room trala1    
  • Leave PIN Code field blank and enter your first name, last name and company name.
  • Click Join Meeting.