tailieunhanh - Lecture Issues in financial accounting – Lecture 29: Special accounting problems related to leases

This chapter list three major long-term liability categories and identify key financial ratios relied upon to assess the importance of these liabilities as a form of financing; list three basic contractual forms that underlie long-term liabilities, and in each case show how the effective interest rate is computed. | Special Accounting Problems Related to Leases PART III: Decision Tools Lecture 29 Identify special features of lease arrangements that cause unique accounting problems. Describe the effect of residual values, guaranteed and unguaranteed, on lease accounting. Describe the lessor’s accounting for sales-type leases. List the disclosure requirements for leases. Learning Objectives Leasing Environment Who are players? Advantages of leasing Conceptual nature of a lease Accounting by Lessee Accounting by Lessor Special Accounting Problems Capitalization criteria Accounting differences Capital lease method Operating method Comparison Residual values Sales-type leases Bargain-purchase option Initial direct costs Current versus noncurrent Disclosure Unresolved problems Economics of leasing Classification Direct-financing method Operating method Accounting for Leases Residual values. Sales-type leases (lessor). Bargain-purchase options. Initial direct costs. Current versus non-current . | Special Accounting Problems Related to Leases PART III: Decision Tools Lecture 29 Identify special features of lease arrangements that cause unique accounting problems. Describe the effect of residual values, guaranteed and unguaranteed, on lease accounting. Describe the lessor’s accounting for sales-type leases. List the disclosure requirements for leases. Learning Objectives Leasing Environment Who are players? Advantages of leasing Conceptual nature of a lease Accounting by Lessee Accounting by Lessor Special Accounting Problems Capitalization criteria Accounting differences Capital lease method Operating method Comparison Residual values Sales-type leases Bargain-purchase option Initial direct costs Current versus noncurrent Disclosure Unresolved problems Economics of leasing Classification Direct-financing method Operating method Accounting for Leases Residual values. Sales-type leases (lessor). Bargain-purchase options. Initial direct costs. Current versus non-current classification. Disclosure. Special Accounting Problems LO 1 Identify special features of lease arrangements that cause unique accounting problems. Meaning of Residual Value - Estimated fair value of the leased asset at the end of the lease term. Guaranteed Residual Value – Lessee agrees to make up any deficiency below a stated amount that the lessor realizes in residual value at the end of the lease term. Residual Values Special Accounting Problems LO 1 Identify special features of lease arrangements that cause unique accounting problems. Lease Payments - Lessor may adjust lease payments because of the increased certainty of recovery of a guaranteed residual value. Lessee Accounting for Residual Value - The minimum lease payments, include the guaranteed residual value but excludes the unguaranteed residual value. Residual Values Special Accounting Problems LO 1 Identify special features of lease arrangements that cause unique accounting problems. Illustration (Guaranteed Residual Value – Lessee

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