BC303 The IASB and the FASB reached different decisions about the lessee accounting model. The differences largely affect leases that were previously classified as operating leases. There are a number of other differences between IFRS 16 and the decisions made by the FASB, primarily because of the different decisions reached on the lessee accounting model. The following paragraphs set out the main differences between IFRS 16 and the decisions made by the FASB.