CCH Accounting for Leases analyzes FASB Statement No. 13, Accounting for Leases, which was released in November 1976, and the numerous successive Interpretations, Technical Bulletins, and Emerging Issue Task Force consensus issues that have been issued since then. Since Statement 13 s issuance in 1976, the FASB has amended the statement almost 20 times and issued 6 interpretations, 12 technical bulletins, and 4 FASB staff positions (which have taken the place of interpretations and technical bulletins). Further, the Emerging Issues Task Force (EITF) has addressed leasing transactions in over 30 different issues (excluding issues related to consolidations of special-purpose entities). Separately, the SEC staff has periodically made its views known, including through a widely distributed letter in 2005 (reproduced in this publication as Appendix III). This publication delves into the complex nature of the criteria set through defining a lease and determining whether it should be accounted for as a sale/purchase or as an operating lease. CCH Accounting for Leases also includes various interpretations and commentary related to investment tax credits (ITC) in the event ITC is reinstated in the future.
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Book Description
Editorial Reviews
About the Author
Jeffrey Ellis is a Managing Director at Huron Consulting Group where he is responsible for conducting independent investigations of financial statement misstatements. Prior to joining Huron, Jeff was a partner in Grant Thornton s National Professional Standards Group and Arthur Andersen s Professional Standards Group, where he consulted with engagement teams on a wide range of accounting issues. Jeff s primary areas of emphasis include accounting for leases, stock-based compensation arrangements, derivatives, and debt and equity transactions. Jeff was a member of the Emerging Issues Task Force (EITF) working groups on EITF Issue No. 00-11, Lessor s Evaluation of Whether Leases of Certain Integral Equipment Meet the Ownership Transfer Requirements of FASB Statement No. 13, EITF Issue No. 00-23, Issues Related to the Accounting for Stock Compensation under APB Opinion No. 25 and FASB Interpretation No. 44, EITF Issue No. 01-8, Determining Whether an Arrangement Contains a Lease, and EITF Issue 02-2, When Certain Contracts That Meet the Definition of Financial Instruments Should Be Combined for Accounting Purposes.
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Key Phrases - Statistically Improbable Phrases (SIPs):
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multiple deliverables, head lease, revenue recognition, guaranteed residual values, leveraged lease accounting, leveraged lease cash flows, estimated total net income, cing lease, prohibited continuing involvement, substantial nonrecourse leverage, fair value purchase option, deferred rent credit, delayed equity contribution, leaseback accounting, residual value guarantee, continuing involvement with the property, discount the minimum lease payments, unguaranteed residual value accruing, contingent rental income, executory costs, depreciable asset basis, minimum rent payments, leaseback rents, existing lease term, mental borrowing rate Key Phrases - Capitalized Phrases (CAPs): (learn more)
Technical Bulletin, Issues Relating, Arrangement Contains, Lessors Paragraph, Implementation Issues, Head Lessee, Consolidation of Variable Interest Entities, Statement of Position, Head Lessor, Revised December, Revenue Arrangements, Issues Paper, Definition of Terms, Leases of Certain Property Owned, Staff Position, Asset Construction, The Effect of Lessee Involvement, Disposal Activities, Decision Points, Refundings of Tax-Exempt Debt, Disposal of Long-Lived Assets, Certain Contracts, Projected Change, Common Stock, Offsetting of Amounts Related Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
multiple deliverables, head lease, revenue recognition, guaranteed residual values, leveraged lease accounting, leveraged lease cash flows, estimated total net income, cing lease, prohibited continuing involvement, substantial nonrecourse leverage, fair value purchase option, deferred rent credit, delayed equity contribution, leaseback accounting, residual value guarantee, continuing involvement with the property, discount the minimum lease payments, unguaranteed residual value accruing, contingent rental income, executory costs, depreciable asset basis, minimum rent payments, leaseback rents, existing lease term, mental borrowing rate Key Phrases - Capitalized Phrases (CAPs): (learn more)
Technical Bulletin, Issues Relating, Arrangement Contains, Lessors Paragraph, Implementation Issues, Head Lessee, Consolidation of Variable Interest Entities, Statement of Position, Head Lessor, Revised December, Revenue Arrangements, Issues Paper, Definition of Terms, Leases of Certain Property Owned, Staff Position, Asset Construction, The Effect of Lessee Involvement, Disposal Activities, Decision Points, Refundings of Tax-Exempt Debt, Disposal of Long-Lived Assets, Certain Contracts, Projected Change, Common Stock, Offsetting of Amounts Related Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
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