Fasb Lease Practices

Page 1 of 43 - About 429 Essays
  • Premium Essay

    Fasb Lease Practices

    Subject: FASB Lease Practices and Client Recommendation I have researched and analyzed the different Financial Accounting Standards Board (FASB) practices related to lease options, which our trucking client may want to consider in his or her new business opportunity. Leases are a way in which companies can finance a business project. According to the official FASB website, a lessor may record a lease transaction as a sales type lease, a direct financing lease, or an operating lease. A sales

    Words: 802 - Pages: 4

  • Premium Essay

    Accounting

    Running head: OFF-BALANCE SHEET FINANCING 1 Leases: Off-Balance Sheet Financing and the Strive for Transparency Today Brian Edman A Senior Thesis submitted in partial fulfillment of the requirements for graduation in the Honors Program Liberty University Spring 2011 OFF-BALANCE SHEET FINANCING Acceptance of Senior Honors Thesis This Senior Honors Thesis is accepted in partial fulfillment of the requirements for graduation from the Honors Program of Liberty University. 2 ______________________________

    Words: 7464 - Pages: 30

  • Premium Essay

    Client Request I

    To: Supervisor From: Date: September 10, 2012 Subject: FASB Research Results and Recommendations The Financial Accounting Standards Board (FASB) website offers information on many accounting subjects. Per your request I have researched the FASB website for information on leases and lease structure issues, in particular the current practices and thought related to direct financing, sales type, and operating leases. The following is a brief explanation of the results and also a recommendation

    Words: 985 - Pages: 4

  • Premium Essay

    International Convergence

    evolved, the concept of having one worldwide set of accounting practice standards has been talked about in various depths and stages along the way. There have been attempts to make international financial reporting more streamlined. This paper is intended to discuss the international financial reporting standards as they relate specifically to the United States convergence of U.S. GAAP to IFRS. The Financial Accounting Standards Board (FASB) is an organization of people who are assigned the task of

    Words: 1663 - Pages: 7

  • Free Essay

    New Lease Accounting Standards

    Accounting 304_01 10/28/2015 Writing Assignment 5 New Lease Accounting Standard On October 7 the FASB held it last decision meeting on their new lease accounting convergence project. The project is a joint project between the FASB and the IASB to change how leases would be recognized. Before leases may or may not have to be recognized on the lessee’s books. The new rule would require lessee to recognize the assets no matter what. The FASB originally was looking to implement the new standard by

    Words: 490 - Pages: 2

  • Premium Essay

    Operating Leases

    current practices and thoughts relating to direct financing, sales type and operating leases in regards to lease types and structure by the Financial Accounting Standards Board (FASB). A lease is defined as a contractual agreement a lessor and a lessee. The lessor is the organization who owns the property or asset, in this situation trucks. The lessee is the company that wishes rent the asset, trucks, for specific amount of time. For accounting purposes, operating or capital lease, the type

    Words: 953 - Pages: 4

  • Premium Essay

    Accounting for Leases

    FASB Statement No. 13: Accounting for Leases Asim Yunus ACC 632 – Critique of Accounting Theory Professor Lynch October 16, 2012   FASB Statement 13: Accounting for Leases FASB Statement 13, Accounting for Leases, was established by the FASB and made effective starting January 1st, 1977. As early as 1949, leasing was recognized as an important financial tool by the accounting business when the American Institute of Certified Public Accountants (AICPA) issued Accounting Research Bulletin No

    Words: 3954 - Pages: 16

  • Premium Essay

    Response to Client Request 1

    | November 30, 2015 | Re: | FASB research results | | | As you requested, I have completed the research on the lease types and lease structure issues on the Financial Accounting Standards Board (FASB) website for the Lone Star Trucking Company. I did specific research on direct financing, sales type, and operating leases. After going over the information I have, I will provide you my recommendation for handling the client’s situation According to the FASB, both the client and the client’s

    Words: 799 - Pages: 4

  • Premium Essay

    Fasb New Leasing Standard

    2016 In Focus Accounting Standards Update No. 2016-02, Leases (Topic 842) On February 25, 2016, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) intended to improve financial reporting about leasing transactions. The ASU affects all companies and other organizations that lease assets such as real estate, airplanes, and manufacturing equipment. The ASU will require organizations that lease assets—referred to as “lessees”—to recognize on the balance

    Words: 1534 - Pages: 7

  • Premium Essay

    Lease Exposure Draft

    Group 1 ACCT 5321.001 Dr. Martin Taylor FASB/IASB Exposure Draft on Leases The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) published comment a revised Exposure Draft on Leases on May 16th, 2013 and closed on September 13th, 2013. Based on this exposure, two boards claimed that the existing financial reporting of leasing activities fails to meet the needs of users of financial statements. While the existing accounting principles require

    Words: 332 - Pages: 2

Previous
Page   1 2 3 4 5 6 7 8 9 43