PPT-Basics of leases

Introduction to Leases A lease is a legal contract between a tenant lessee and landlord lessor Specifies the rights and obligations of the owner and user A lease divides the bundle of rights in real estate into two interests. Presented by:. Roman Geissel, Deputy Program Director. Audit and Compliance Management. Petroleum Accountants Society of Oklahoma. February 11 & 12, 2015. Industry Compliance. Accurate Revenues & Data. Personal Property Securities Act 2009. (Cth). March 2014. 2. Agenda. 3. Security interests. 4. PPS leases defined. Lease or bailment of goods for …. More than one year, including any holding over or renewal. RICHARD G. SCHROEDER . MYRTLE . W. CLARK . JACK . M. CATHEY. THEORY . AND. ANALYSIS: . TEXT AND CASES. 10. TH. EDITION. CHAPTER 13. LEASES. Introduction. Property rights are acquired by the purchase of assets. April 2011. Russ Golden – FASB Member. Susan Cosper – FASB Technical Director. Agenda . Outreach. Changes made from the Exposure Draft . Definition of a lease. Variable payments. Renewal options. October . 6, . 2010. This presentation has been prepared to help constituents understand the current status of projects of the FASB and IASB. . The views expressed in this presentation are those of the presenter. Official positions of the FASB and the IASB are reached only after extensive due process and deliberations.. Exploratory Units. Tom McKee, . Chelsey. Russell and Scott Turner. Federal Leasing Is Complex!. This presentation is a very basic overview. . For more information:. Two-day seminar in Federal Lease Pooling in 2009. Lease Accounting and. Operational Implications. Tim Shepard . Senior Manager, Financial Accounting Advisory Services. Ernst & Young LLP. November 18, 2016. Disclaimer. These slides are for educational purposes only and are not intended, and should not be relied upon, as accounting advice.. Leases Project. Overview. Identify a lease. Lessee: how big the liability will be?. Lessor accounting: what has changed?. Other lease accounting issues. Transition provisions. What do you need to do to get ready for 2019?. 1. Vaibhav Tandon, CPA. Audit and Accounting Manager, Gumbiner Savett. Extensive experience with privately held clients in retail distribution, wholesale, consumer finance, and manufacturing industries. History of Non-Operating Interests. Interests without the right to operate which were severed from the working interest by grant or reservation.. Overriding Royalty. Carried Interest. Net Profits Interests. 16th . Edition. Kieso . ●. . Weygandt . ●. . Warfield. . Explain . the nature, economic substance, and advantages of lease transactions. .. Describe . the accounting for leases by lessees.. LEARNING OBJECTIVES. A closer look at the new leases standard- Ind AS 116 CA (Dr.) Sanjeev Singhal CA Amit Jain 1 Content Background 2 Scope 3 New Definition of lease 4 Lessee accounting 5 Lessor accounting 6 Transition Rule #3 Page 1 of 6 Title 6 . LEASING Información Financiera y Normalización Contable Keywords Operating leases, international accounting standards, impact assessment, constructive method, factor method