Accounting

Leases: Lessee Perspective — Selected Topics (Portfolio 5118)

  • ernal Auditing: Fundamental Principles and Best Practices analyzes the development of auditing, the importance and visibility of which have expanded.

Description

BNA Tax and Accounting Portfolio 5118, Leases: Lessee Perspective—Selected Topics (Accounting Policy and Practice Series), explains and analyzes specific financial accounting leasing issues from the perspective of the lessee. The Portfolio extensively analyzes sale-leaseback transactions, including lessee motivations for entering into these types of leases and the rules applicable to both classification and reporting. The Portfolio also comprehensively discusses build-to-suit structures and analyzes lessee involvement in these transactions and the ways in which that involvement affects financial reporting.

The Portfolio analyzes the effects of changes in lease provisions on existing leases and the accounting for subleases. The work also discusses additional topics of interest to lessees, including rating agencies’ treatments of operating leases, tax-exempt municipal leasing, and leasing fractional shares of aircraft. Lastly, the Portfolio describes new approaches to lease accounting that U.S. and international standards setters are considering and suggests how parties to leases might plan for these changes.

The third in a subseries of Portfolios on accounting for leases, this work augments. Other titles in the subseries will focus on leasing from the lessor’s perspective. The FASB and the International Accounting Standards Board (IASB) are collaborating to revise and converge their standards on Accounting for Leases. This Portfolio will be updated as necessary to reflect any new rules or principles. For a summary of the most recently proposed rules and their potential impact on lessee accounting, see APP 5114, Accounting for Leases: Fundamental Principles at Section I.D.

This Portfolio may be cited as BNA Tax and Accounting Portfolio 5118, Sebik & Starczewski, Leases: Lessee Perspective—Selected Topics (Accounting Policy and Practice Series).

Table of Contents

I. Purpose, Role, and Scope of Portfolio
II. Sale-Leaseback Transactions-Lessee Perspective
III. Effect of Changes in Lease Provisions
IV. Subleases and Similar Transaction
V. Additional Topics of Special Interest to Lessees
VI. Anticipated Lease Accounting Rule Changes and Possible Ramifications

Joseph_Sebik
Joseph Sebik
TAX REPORTING - FINANCIAL SERVICES
Siemens Corp
Lisa_Starczewski
Lisa Starczewski
Shareholder
Buchanan Ingersoll & Rooney PC
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