Death of the Operating Lease Running head: DEATH OF THE OPERATING LEASE 1 Death of the Operating Lease and its Impact on Leading U.S. Companies Mark S. Lynn Mount St. Mary’s University Copyright 2010, Mark S. Lynn Death of the Operating Lease Abstract The proposed elimination of operating lease treatment by the IASB and FASB, as outlined in 2 their discussion paper, Leases – Preliminary Views, will have a varying degree of impact on U.S firms. After a review of the evolution of
Words: 17667 - Pages: 71
Long-Term Leases in the Financial Statements of Lessees.” In the 1960s, the APB recognized how important accounting for leases was when they included it in the top five topics that were to be studied by the AICPA’s Accounting Research Division. In 1962, the Accounting Research Study No. 4, “Reporting of Leases in Financial Statements”, was released and eventually APB picked up the subject. For the next ten years, the APB released four opinions (No. 5, 7, 27 & 31) concerning leases which were improved
Words: 3954 - Pages: 16
Journal of Accounting and Economics 55 (2013) 66–90 Contents lists available at SciVerse ScienceDirect Journal of Accounting and Economics journal homepage: www.elsevier.com/locate/jae Towards an understanding of the role of standard setters in standard setting$ Abigail Allen, Karthik Ramanna n Harvard Business School, USA a r t i c l e in f o abstract Article history: Received 15 September 2010 Received in revised form 24 May 2012 Accepted 25 May 2012 Available online
Words: 20500 - Pages: 82
In 1967, APB Opinion No.11 replaced ARBs 43 and 44 under the requirement of comprehensive allocation. If there is any difference, comprehensive allocation requires rigid and absolute allocation, while partial allocation is flexible and requires allocation when a perceived real payback of accelerated tax benefits incurs. In 1987, SFAS No.96 took place of APB Opinion No.11 with so much conservatism in recognizing deferred tax. SFAS No. 96, using asset-liability approach, differs from APB Opinion
Words: 3592 - Pages: 15
Excellence- Success Will Follow” 2011 For more free sample papers and test papers Visit http://jsunilclasses.weebly.com company address] Page 2 Q.8 Two tangents PA and PB are drawn to the circle with centre, such that APB 1200 . Prove that OP = 2 AP. Section c 3 Mark Each Q.11 The tangent at a point C of a circle and a diameter AB when extended intersect at P. IfPCA 1100 , find CBA. Q.12 In the figure. X.Y. are two parallel tangents to a circle
Words: 358 - Pages: 2
Pacemaker Behavior’s Behavior s Prof Glikson, Sandra Schor-Wider Nadav Hayman Patient Case Description • This is a patient with SSS + PAF with a DDDR pacemaker . He did not tolerate MVP in the past so we turned it off. • He recently complains of palpitations of two types : • Sudden events of rate around115 • Rate about 80 , general weakness that reminds him of the sense of temporary VVI pacing during clinic visits • He was able to record both episodes • We programmed the AHR diagnostics to detect
Words: 1319 - Pages: 6
clients. CAP At the urging of the SEC, the AICPA appointed the Committee on Accounting Procedure in 1939. The Committee on Accounting Procedure (CAP) composed of practicing CPAs, issued 51 Accounting Research Bulletins during the years 1939 to 1959. APB APB’s mission was to develop an overall conceptual framework to assist in the resolution of problems as they become evident and to substantively research individual issues before the AICPA issued pronouncements. FASB The FASB's mission is "to establish
Words: 331 - Pages: 2
Department of Law, Economics, Accountancy and Risk AUDITOR INDEPENDENCE Introduction The concept of independence is strongly associated with professionally standard auditing (Olagunju, 2011, pp.85). In other to maintain the utmost standard for the accounting profession, independence is seen as being free from control or pressure and not allowing situations which would tend to weaken objectivity or create personal preconceived notions (Porter and Simon et al., 1996). Audit improves the trustworthiness
Words: 2487 - Pages: 10
Accounting Standards Boards Sharon Little ACC 541 Marina Layvand May 27, 2013 The FASB, Financial Accounting Standards Board was created in 1973 when the APB, Accounting Principles Board, was abolished. The FASB focuses on accounting standards in the United States. The board established the Generally Accepted Accounting Principles, or GAAP, emplyed by financial accountants in the United States. It also establishes
Words: 405 - Pages: 2
Accounting Horizons Vol. 26, No. 1 2012 pp. 125–133 American Accounting Association DOI: 10.2308/acch-50087 COMMENTARY Some Conceptual Tensions in Financial Reporting American Accounting Association’s Financial Accounting Standards Committee (FASC) Yuri Biondi, Jonathan Glover, Karim Jamal (Chair and principal co-author), James A. Ohlson, Stephen H. Penman, Shyam Sunder (invited principal co-author), and Eiko Tsujiyama SYNOPSIS: We examine four key conceptual tensions that are at the heart
Words: 4883 - Pages: 20
