GAAP Policies and Procedures, Second Edition

Chapter 11. Leases

Definitions of Terms			289
Concepts and Examples			290
	Accounting for Leases—Lessee		290
	Accounting for Leases—Lessor		292
	Accounting for Operating Leases—Lessor		293
	Accounting for Sales-Type Leases—Lessor		293
	Accounting for Direct Financing Leases—Lessor		295
	Lease Terminations		297
	Lease Extensions		297
	Subleases		298
	Sale-Leaseback Transactions		298
Decision Trees			298
Policies			299
	Accounting for Leases—Lessee		299
	Lease Terminations		300
Procedures			300
	Accounting for a Capital Lease—Lessee		300
	Accounting for a Sales-Type Lease—Lessor		302
	Accounting for a Direct Financing Lease—Lessor		303
Controls			305
	Accounting for Leases—Lessee		305
	Accounting for Leases—Lessor		306
	Lease Terminations		306
Forms and Reports			306
	Lease Payments Report		306
	Lease Termination Report		307
Footnotes			307
	Disclosure of Leases by Lessees		307
	Disclosure of Lease Termination Costs		308
	Disclosure of Sale and Leaseback Transactions		308
	Disclosure of Leases with Related Parties		309
	Disclosure of Treatment of Free Rent Periods		309
	Disclosure of Sublease Rentals		309
	Disclosure of Operating Leases by Lessor		310
	Disclosure of Direct Financing and Sales-Type Leases by Lessor		310
Journal Entries			311
	Accounting for Leases—Lessee		311
		Lease, capital (initial record by lessee)	311
	Accounting for Leases—Lessor		311
		Initial lease record by lessor (sales-type lease)	311
		Receipt of cash payments by lessor (sales-type lease)	311
		Recording of periodic interest revenue by lessor (sales-type lease)	311
		Return of asset to lessor at end of lease (sales-type lease)	311