TAILIEUCHUNG - Issues in Financial Accounting (29)

PART III: Decision Tools. Lecture 29. Special Accounting. Problems Related to. Learning. Learning Objectives. Objectives. 1. Identify special features of lease arrangements that cause unique. accounting problems 2. Describe the effect of residual values, guaranteed and unguaranteed, on. lease accounting 3. Describe the lessor’s accounting for sales-type leases 4. List the disclosure requirements for leases2 Accounting. Accounting for. for Leases. Leases. Leasing Accounting by Accounting by Special Accounting. Environment Lessee Lessor Problems. Who are Capitalization Economics of Residual values. players? criteria leasing Sales-type. Advantages of Accounting Classification leases. leasing differences Direct-financing Bargain-. Conceptual Capital lease method purchase option. nature of a lease method Operating Initial direct costs. Operating method Current versus. method noncurrent. Comparison Disclosure. Unresolved. problems3 Special. Special Accounting. Accounting Problems. Problems 1. Residual values. 2. Sales-type leases (lessor). 3. Bargain-purchase options. 4. Initial direct costs. 5. Current versus non-current classification. 6. Disclosure LO 1 Identify special features of lease . that cause unique accounting problems. Special. Special Accounting. Accounting Problems. Problems Residual Values. 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 LO 1 Identify special features of lease . that cause unique accounting problems. Special. Special Accounting. Accounting Problems. Problems Residual Values. 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 LO 1 Identify special features of lease . that cause unique accounting problems. Special. Special Accounting. Accounting Problems. Problems. Illustration (Guaranteed Residual Value – Lessee Accounting):. Caterpillar Financial Services Corp. (a subsidiary of Caterpillar) and. Sterling Construction Corp. sign a lease agreement dated January 1,. 2012, that calls for Caterpillar to lease a front-end loader to Sterling. beginning January 1, 2012. The terms and provisions of the

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