Registrants- Join Us Today! 12:00-2:00pm
Seminar Overview:
The accounting profession recognizes leases as either an operating lease
or a capital lease (finance lease). An operating lease records no asset
or liability on the financial statements, the amount paid is expensed
as incurred. On the other hand, a capital lease is recorded as both an
asset and a liability on the financial statements, generally at the
present value of the rental payments (but never greater than the asset's
fair market value). To distinguish the two, the Financial Accounting
Standards Board (FASB) provided criteria for when a lease should be
capitalized, and if any one of the criteria for capitalization is met,
the lease is treated as a capital lease and recorded on the financial
statements.
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