Ref. No. 504
January 9, 1973
This draft has been prepared for discussion purposes.
It has not been adopted by the Accounting
Principles Board and should not be considered as
indicative of the views of any or all Board members.
Proposed APB Opinion
Disclosure of Lease Commitments
This draft Opinion provides for separate disclosure of (a) the total
lease rentals charged against operations for each period presented;
(b) the minimum annual rentals payable in each of the
five succeeding years and thereafter by five-year periods for all
leases with noncancelable terms of more than one year; and (c)
the present value of all leases with noncancelable terms of more
than one year, computed on a net basis if reasonably determinable.
Issued by the Accounting Principles Board of the
American Institute of Certified Public Accountants
for Comment from Persons Interested in Financial Reporting
Comments should be received by March 23, 1973 and
addressed to Richard C. Lytle, Administrative Director, APB
at the Institute's Offices, 666 Fifth Avenue, N.Y., N.Y. 10019