handout for class 10

handout for class 10 - Handout #9 for Bus321-Intermediate...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Handout #9 for Bus321-Intermediate Accounting II Professor: Yasheng Chen Notes for BUS321 Class 10: Accounting for Leases Learning objectives: Lease: 1. Understand the difference between lease and purchase 2. Understand and apply GAAP criteria to capitalize lease for the lessee and the lessor. 3. Prepare journal entries to record operating leases and capital leases for lessees. 4. Prepare journal entries to record operating leases, direct financing leases, and sales-type leases for lessors. 5. Identify the effect of residual values and bargain purchase options on lease accounting. Key learning points for Lease: 1. What is a lease? 2. Advantage of lease over purchase 3. Accounting principle for capitalizing leases 4. GAAP criteria for capitalizing leases for the lessee i. ii. iii. 5. (Additional) GAAP criteria for capitalizing leases for the lessor iv. v. 6. Components of minimum lease payment a. b.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/15/2012 for the course BUS 303 taught by Professor Brown during the Spring '11 term at Simon Fraser.

Page1 / 3

handout for class 10 - Handout #9 for Bus321-Intermediate...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online