The objective of the limited survey was to consult with European constituents in order to understand which areas of the ED’s accounting model for lessees needed to be simplified the most and to assess the usefulness and workability of the simplifications contained in the IASB staff papers for discussion at the IASB meeting in March 2014. Subject to the limitations and constraints set forth in the report, the findings of the limited survey mainly indicated the following:

  • A majority of respondents supported additional recognition exemptions beyond the current short-term exemption,
  • A majority of respondents indicated their preference for a single type A model for all leases. However, some respondents would support a single model only if the distinction between leases and services was improved in the forthcoming standard.

EFRAG’s report