PPT-Chapter 1 8 Accounting for Leases

LEARNING OBJECTIVES Understand the basic concepts of lease accounting and identify the advantages and disadvantages of leasing Understand lease contracts and determine how to separate lease . By Phil Rickard. Associate Professor of Accounting, Mount Vernon Nazarene University. What is U.S. Accounting Convergence?. Accounting Harmonization. Relates to the process of substantially standardizing the rules and regulations for international securities and the related accounting principles across . Leases. May 2013. This presentation has been prepared to help . stakeholders . understand the current status of the . leases . project of the FASB and . the IASB. . The views expressed in this presentation are those of the presenters. Official positions of the FASB and . Understand . the importance of leases from a business perspective.. Explain . the conceptual nature, economic substance, and advantages of lease transactions.. Identify . and apply the criteria that are used to determine the type of lease for accounting . 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. 803 Indian (Ind AS) 17 Leases (This India n Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate the main principl 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?. . May 25, 2017. Our webinar will begin shortly. .. ASC 842: Are you ready for the new lease accounting standards?. . May 25, 2017. Bob Roll. Melissa Lacy. Questions. . 3. How to ask a question during today’s webinar?. 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?. Agenda. 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. Tuesday, March 21, 2017. This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax or other professional advice. Please refer to your advisors for specific advice.. Certified continuing professional education class. 2-hour credit. Must remain for the entirety of the class to receive CPE credit. Must sign in and sign out to receive CPE credit. Certificates of attendance will be emailed for CPE credit. 16th . Edition. Kieso . ●. . Weygandt . ●. . Warfield. . Explain . the nature, economic substance, and advantages of lease transactions. .. Describe . the accounting for leases by lessees.. LEARNING OBJECTIVES. Información Financiera y Normalización Contable Keywords Operating leases, international accounting standards, impact assessment, constructive method, factor method