IFRS for leases is more "rules-based" than U.S. GAAP and includes many bright-line criteria to determine ownership.

Name: IFRS for leases is more "rules-based" than U.S. GAAP and includes many bright-line criteria to determine ownership.
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IFRS for leases is considered more "principles-based" and does not include as many bright-line criteria for determining ownership as U.S. GAAP does. U.S. GAAP is more rules-based in this context.

IFRS for Leases Is More "Rules-Based" Than U