Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
Accounting Standards Codification (ASC) 840, Leases, and its subtopics establish standards of accounting and reporting by lessees and lessors for leases overall, and for specific classifications of leases. ASC 840 contains four subtopics: ASC 840‐10, Overall; ASC 840‐20, Operating Leases; ASC 840‐30, Capital Leases; ASC 840‐40, Sale‐Leaseback Transactions. Leasing offered two advantages: 100% financing, coupled very often with off‐the‐books obligations. The lease transaction is the best example of the accounting profession's substance‐over‐form argument. If the transaction effectively transfers the risks and rewards of ownership to the lessee, then the substance of the transaction is that of a sale and, accordingly, it is recognized as such for accounting purposes even though the transaction is legally structured as a lease. Property, plant, or equipment, as the term is used in ASC 840, includes only land and/or depreciable assets. Therefore, inventory cannot be the subject of a lease because inventory is not depreciable.
Accounting Standards Codification (ASC) 840, Leases, and its subtopics establish standards of accounting and reporting by lessees and lessors for leases overall, and for specific classifications of leases. ASC 840 contains four subtopics: ASC 840‐10, Overall; ASC 840‐20, Operating Leases; ASC 840‐30, Capital Leases; ASC 840‐40, Sale‐Leaseback Transactions. Leasing offered two advantages: 100% financing, coupled very often with off‐the‐books obligations. The lease transaction is the best example of the accounting profession's substance‐over‐form argument. If the transaction effectively transfers the risks and rewards of ownership to the lessee, then the substance of the transaction is that of a sale and, accordingly, it is recognized as such for accounting purposes even though the transaction is legally structured as a lease. Property, plant, or equipment, as the term is used in ASC 840, includes only land and/or depreciable assets. Therefore, inventory cannot be the subject of a lease because inventory is not depreciable.
ASC 840 Leases
Flood, Joanne M (Autor:in)
Wiley <fc>GAAP</fc> 2018 ; 1117-1182
12.03.2018
66 pages
Aufsatz/Kapitel (Buch)
Elektronische Ressource
Englisch
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