This article analyzes current accounting for leases under US GAAP and IFRS and discusses the accounting update of the subject by the two accounting regimes. The article points out the tendency of lessees to account for leases under the operating lease as it allows them to obtain legitimate off-...
Under US GAAP, a lessor must capitalize a lease if any of the four lessee conditions for capitalization are present, PLUS BOTH of the following requirements are met: The lessor can reasonably expect to collect the minimum lease payments; and The lessor has no material uncertainties regarding the...
• Start gaining an understanding of the new standard; note the divergence between IFRS and US GAAP if this applies to you. Entities reporting under both IFRS and US GAAP might have some additional work to do. • Carry out a strategic evaluation of all existing leases – that is, assess...
Start gaining an understanding of the new standard; note the divergence between IFRS and US GAAP if this applies to you. Entities reporting under both IFRS and US GAAP might have some additional work to do. ? Carry out a strategic evaluation of all existing leases – that is, assess what ...
IFRS 16 Leases prescribes a single lessee accounting model that requires the recognition of asset and corresponding liability for all leases with terms over 12 months unless the underlying asset is of low value. This page provides information on the stan
(that is, meets the requirements for a sale in the forthcoming revenue recognition standard). Leases that do not give rise to selling profit (or loss) – generally those of financial lessors, would be classified in the same manner as all leases under ...
For example, if your organization rented a piece of equipment for two days a week, with another organization renting it for the other five, under GAAP, it is not a lease because you are only obtaining 40% of the lease’s service capacity. UnderGASB, however, the lessee can have a lease...
Impacts Under IFRS & US GAAP Putting It All Together SummaryThis Course is Part of the Following Programs Why stop here? Expand your skills and show your expertise with the professional certifications, specializations, and CPE credits you’re already on your way to earning. Financial Modeling &...
The case seeks to contrast the lease accounting under the previous standard (ASC 840) and the guidance to be implemented in 2019 (ASC 842). The case is rel... B Mccallum,C Mccallum,R Romero - 《Social Science Electronic Publishing》 被引量: 0发表: 0年 Analyzing the implications of the...
The paper is concerned with an evaluation of possibilities of companies using operating lease and prepared financial statements under IFRS or US GAAP compa... W Xu,RA Davidson,CS Cheong - 《Pacific Accounting Review》 被引量: 0发表: 2017年 Exploring the Accounting Treatment of Exploration and Ev...