Can anyone tell me about IASB ?
The IASB is of the view that, in most cases, the assessment of whether a contract contains a lease should be straightforward. A contract will either fail to meet the definition of a lease by failing to meet many of the requirements or will clearly meet the requirements to be a lease without requiring a significant amount of judgement. However, application guidance has been added to make it easier for entities to make the lease assessment for more complicated scenarios.
For more details you can view here.