This determination would be made based on whether the lease transfers substantially all of the risks and rewards of ownership of the underlying asset. Additionally, the FASB determined that “the lessor should be precluded from recognizing profits and sales proceeds at the inception of the lease for any Type A lease that does not transfer control of the underlying asset to the lessee.” Additionally, the lessor will need to apply an equivalent approach to existing IFRS finance lease accounting for all Type A leases (Appendix C). With respect to disclosure of financial information, the FASB has decided that if short-term lease expenses do not reflect the lessee's expenses on short-term lease commitments, the lessee should disclose that fact and the amount of its lease commitments in the short term. The IASB has decided not to maintain the qualitative disclosure requirements proposed in the 2013 ED and, instead, to require the lessee to provide sufficient additional information to meet the overall disclosure objective. The FASB will continue to draft the final leasing standards and will discuss any benefits and costs of the new leasing standards (Appendix