- FASB Home››
- REFERENCE LIBRARY››
- Superseded Standards
Summary of Statement No. 22
Changes in the Provisions of Lease Agreements Resulting from Refundings of Tax-Exempt Debt—an amendment of FASB Statement No. 13 (Issued 6/78)
Summary
A refunding involves the use of the proceeds from issuing new debt to retire existing debt. This Statement specifies that, if a change in the provisions of a lease results from a refunding by the lessor of tax-exempt debt that is accounted for as an early extinguishment(retirement) of debt, any resulting gain or loss from the adjustment must be recognized currently.
REFERENCE LIBRARY
- Project Plans Archive
- FASB Outlook
- Presentations & Speeches
- Meeting Minutes
- Public Forums
- Exposure Documents & Public Comment Documents
- Other Comment Letters
- Ballots
- Additional Communications
- Research Project Published Reports
- Agenda Requests
- Foundation Annual Reports
- FASB Chairman Quarterly Reports
- Superseded Standards
- Technical Inquiry Service
- Comparability in International Accounting Standards
- Public Reference Request Form
- Strategic Plan
- FASB Special Report: The Framework of Financial Accounting Concepts and Standards