西方财务会计 原版课件21.ppt

C H A P T E R 21;Explain the nature, economic substance, and advantages of lease transactions. Describe the accounting criteria and procedures for capitalizing leases by the lessee. Contrast the operating and capitalization methods of recording leases. Identify the classifications of leases for the lessor. Describe the lessor’s accounting for direct-financing leases. Identify special features of lease arrangements that cause unique accounting problems. Describe the effect of residual values, guaranteed and unguaranteed, on lease accounting. Describe the lessor’s accounting for sales-type leases. List the disclosure requirements for leases.;Leasing Environment;Largest group of leased equipment involves: Information technology Transportation (trucks, aircraft, rail) Construction Agriculture;Three general categories: Banks. Captive leasing companies. Independents.;100% Financing at Fixed Rates. Protection Against Obsolescence. Flexibility. Less Costly Financing. Tax Advantages. Off-Balance-Sheet Financing.;Capitalize a lease that transfers substantially all of the benefits and risks of property ownership, provided the lease is noncancelable. Leases that do not transfer substantially all the benefits and risks of ownership are operating leases.;Operating Lease;If the lessee capitalizes a lease, the lessee records an asset and a liability generally equal to the present value of the rental payments. Records depreciation on the leased asset. Treats the lease payments as consisting of interest and principal.;To record a lease as a capital lease, the lease must be noncancelable. One or more of four criteria must be met: Transfers ownership to the lessee. Contains a bargain-purchase option. Lease term is equal to or greater than 75 percent of the estimated economic life of the leased property. The present value of the minimum lease payments (excluding executory costs) e