PPT-Federal Leases and

Exploratory Units Tom McKee Chelsey Russell and Scott Turner Federal Leasing Is Complex This presentation is a very basic overview For more information Twoday seminar in Federal Lease Pooling in 2009. 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. 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 . 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.. 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. 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. Segment 3:. Regulations & Leasing Clauses. Segment 3: Regulations & Leasing Clauses. Learning Objectives:. Understand the influences of building codes and government on site selections. Know about the specific clauses in Chinese retail leases. 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. Jeff Jensen, CPA . © 2017 Crowe . LLP. Polling Question #1. Which of the following best describes your experience related to GASB 87? . I have read through GASB 87 and have already began taking inventory of our leases and determining how each will be reported. 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