TAILIEUCHUNG - Lecture Intermediate accounting (14th edition): Chapter 21 - Kieso, Weygandt, Warfield

Chapter 21 - Accounting for leases. In this chapter students will be able to: Explain the nature, economic substance, and advantages of lease transactions; describe the accounting criteria and procedures for capitalizing leases by the lessee; contrast the operating and capitalization methods of recording leases;. | Prepared by Coby Harmon University of California, Santa Barbara Intermediate Accounting Intermediate Accounting 14th Edition 21 Accounting for Leases Kieso, Weygandt, and Warfield Explain the nature, economic substance, and advantages of lease transactions. Describe the accounting criteria and procedures for capitalizing leases by the lessee. Contrast the operating and capitalization methods of recording leases. Identify the classifications of leases for the lessor. Describe the lessor’s accounting for direct-financing leases. 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 Largest group of leased equipment involves: Information technology Transportation (trucks, aircraft, rail) Construction Agriculture LO 1 Explain the nature, economic substance, and advantages of lease transactions. A lease is a contractual agreement between a lessor and a lessee, that gives the lessee the right to use specific property, owned by the lessor, for a specified period of time. The Leasing Environment Banks LO 1 Who Are the Players? The Leasing Environment Captive Leasing Independents Wells Fargo Chase Citigroup PNC Caterpillar Financial Services Corp. Ford Motor Credit (Ford) IBM Global Financing Market Share 47% 23% 26% 100% financing at fixed rates. .

• Kế toán - Kiểm toán
• Intermediate accounting
• Lecture Intermediate accounting
• Accounting for leases
• The leasing environment
• Disclosing lease data
• Financial Accounting
• Accounting process
• Accounting equation
• Accounting processing cycle
• Stock issuance
• Estimating reserves
• Liquidating dividends
• Accounting changes
• Error corrections
• Accounting choices
• Theoretical structure
• Accrual accounting
• Financial accounting environment
• Leasing environment
• Accounting by lessee
• Special accounting problems
• Cash versus accrual accounting
• International standard setting
• Accounting standards
• Accounting assists
• The challenges facing accounting
• Income taxes
• Accounting for income taxes
• Deferred tax liabilities
• Error analysis
• Accounting policy
• Accounting estimate
• Accounting policies
• Financial reporting
• Accounting information system
• Measurement issues
• Characteristics of accounting
• Capital allocation process