Search results
Results from the WOW.Com Content Network
The primary standard for lease accounting is Statement of Financial Accounting Standards No. 13 (FAS 13), which has been amended several times; it is known as topic 840 in the FASB's new Accounting Standards Codification. The basic criteria for capitalization of a lease by lessee are as follows:
Accounting for Leases: Sale-Leaseback Transactions Involving Real Estate, Sales-Type Leases of Real Estate, Definition of the Lease Term, and Initial Direct Costs of Direct Financing Leases—an amendment of FASB Statements No. 13, 66, and 91 and a rescission of FASB Statement No. 26 and Technical Bulletin No. 79-11: May 1988: 99
Accounting for an Unused Investment Tax Credit—an interpretation of APB Opinions No. 2, 4, 11, and 16 Sept. 1978: Parts deleted; Superseded by FASB Statement 96, para. 203(l), and FASB Statement 109, para. 286(o) 26. Accounting for Purchase of a Leased Asset by the Lessee during the Term of the Lease—an interpretation of FASB Statement No. 13
Finding the right accounting solution for leases will depend on how many you have and what type of information is needed to manage your organization.
Accounting for Income Taxes of Stock Life Insurance Companies full-text: superseded by FASB Technical Bulletin No. 84-3 1984 October 15: Application of concepts in FASB statement of financial accounting standards no. 71 to emerging issues in the public utility industry full-text: 1984 October 31: Accounting for Key Person Life Insurance full-text
The determination of whether a lease is a finance (also called capital) lease or an operating lease from an accounting point of view is defined in the United States by Statement of Financial Accounting Standards No. 13 (FAS 13). In countries covered by International Financial Reporting Standards, the tests are defined in IAS 17.
The FASB established the Investor Task Force (ITF) in 2005, which was an advisory resource that provided the Board with sector expertise and specific insights from the professional investment community on relevant accounting issues. [30] The FASB then implemented SFAS 157 which established new standards for disclosure regarding fair value ...
The Financial Accounting Standards Board (FASB) has announced plans Archived 2015-01-30 at the Wayback Machine to change the way banks account for the impairment of assets in the ALLL. The final ruling, the Current Expected Credit Losses (CECL) model, was released in June 2016.