Background information:Leasing transactions represent a very significant portion of the capital investments of many companies. The accounting classification of these leases can have a dramatic impact on the financial position and earnings reported by a company. The AICPA Accounting Trends and Technique – 2008 disclosed that 591 of the 600 companies surveyed (98.5%) had leases. During the early 2000s, a resurgence of interest in off-balance sheet financing took place in the economic environment which placed a premium on asset return and return-on-equity ratios. This same interest continues today as companies contemplating financing often view the benefits of off-balance sheet accounting as a major factor in deciding whether to consummate a proposed lease.The complexities of accounting for leases are evident, based on the significant volume of authoritative accounting literature issued for US GAAP and IFRS. This is more evident for US GAAP than for IFRS given the extensive issuance of amendments, interpretations, technical bulletins and EITFs subsequent to the issuance of SFAS No. 13. However, in conjunction with the convergence project for leases, the IASB and the FASB announced their intentions to issue a single common standard in 2011 requiring that all leases be accounted for as finance leases. The issuance of such a common standard is certain to have a significant effect on corporate America, especially those companies that seek off-balance sheet financing through leasing.RequiredDiscuss whether you support the joint proposal, providing the specific rationale for your conclusion.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more
Let us help you get a good grade on your paper. Get professional help and free up your time for more important courses. Let us handle your;