Wiley Not-for-Profit GAAP 2019

28ACCOUNTING FOR LEASES

• Perspective and Issues
  • Lessee Accounting
  • Lessor Accounting
  • Definition of a Lease
  • Components
  • Effective Date
• Definitions of Terms
• Concepts, Rules, and Examples
  • Classification of Leases—Lessee
  • Classification of Leases—Lessor
  • Distinction between Sales-Type, Direct Financing, and Leveraged Leases
  • Accounting for Leases—Lessee
    • Operating leases
    • Capital leases
  • Accounting for Leases—Lessor
    • Operating lease
    • Sales-type lease
    • Direct financing lease
    • Leveraged lease
  • Special Situations
    • Change in residual value
    • Change in the provisions of a lease
    • Termination of a lease
    • Renewal or extension of an existing lease
    • Leases between related parties
    • Accounting for leases in a business combination
    • Accounting for changes in lease agreements resulting from refunding of tax-exempt debt
    • Sale or assignment to third parties; nonrecourse financing
    • Transfers of residual value (FASB ASC 860-10)
    • Accounting for a sublease
  • Sale-Leaseback Transactions
    • Sale-leaseback involving real estate
  • Leases Involving Real Estate
    • Leases involving land only— Lessee accounting
    • Lessor accounting
    • Leases involving land and building— Lessee accounting
    • Lessor accounting
    • Leases involving real estate and equipment
    • Leases involving only part of a building
    • Lessee accounting
    • Lessor accounting
  • Reporting of Current and Noncurrent Lease Receivable (Lessor) and Lease Obligations (Lessee)
• Disclosure Requirements
  • Disclosure Requirements—Lessees
  • Disclosure Requirements—Lessors

PERSPECTIVE AND ISSUES

Lease ...