FASB_13 - □ Contains a bargain purchase option. □ Lease...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
GAAP Lease Classification Criteria Statement of Financial Accounting Standards (SFAS) No. 13 Accounting for Leases (issued November 1976) or under its new name… Codification Topic 840: Leases Capital Leases: Leases that meet one or more of the capital lease criteria. Operating Leases: All other leases. Capital Lease Criteria Transfers ownership of the property to the lessee by the end of the lease term.
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: □ Contains a bargain purchase option. □ Lease term is equal to 75 percent or more of economic life of leased property. □ Present value of the minimum lease payments (at the beginning of the lease term) equals or exceeds 90 percent of the excess of the fair value of the leased property...
View Full Document

This note was uploaded on 09/09/2011 for the course TAX 6845 taught by Professor Kelliher,c during the Fall '08 term at University of Central Florida.

Ask a homework question - tutors are online