A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
This chapter provides definitions of terms included in ASC 840, discusses its perspectives and issues, and presents the concepts, and rules, along with examples. 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 840‐10‐35 provides guidance on determining when all or part of an arrangement constitutes a lease. There are four possible classifications that apply to a lease from the standpoint of the lessor, including operating, sales‐type, direct financing and leveraged leases. ASC 840‐40 clarifies that leases that involve land and buildings or leases in a sale‐leaseback transaction potentially qualify as leveraged leases if the criteria to qualify as a leveraged lease are met. Leases that involve government units usually contain special provisions that prevent the agreements from being classified as anything but operating leases.
This chapter provides definitions of terms included in ASC 840, discusses its perspectives and issues, and presents the concepts, and rules, along with examples. 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 840‐10‐35 provides guidance on determining when all or part of an arrangement constitutes a lease. There are four possible classifications that apply to a lease from the standpoint of the lessor, including operating, sales‐type, direct financing and leveraged leases. ASC 840‐40 clarifies that leases that involve land and buildings or leases in a sale‐leaseback transaction potentially qualify as leveraged leases if the criteria to qualify as a leveraged lease are met. Leases that involve government units usually contain special provisions that prevent the agreements from being classified as anything but operating leases.
ASC 840 LEASES
Flood, Joanne M. (editor)
2015-12-02
64 pages
Article/Chapter (Book)
Electronic Resource
English
| Wiley | 2021
| Wiley | 2019
| Wiley | 2019
| Wiley | 2018
| Engineering Index Backfile | 1929