Identify the present rules for evaluating a lease and whether it is capitalized or not.
Summarize the new lease accounting rules.
Distinguish the effect these new rules have on the balance sheet, income statement, and cash flow statement.
Differentiate what industries would be affected more than others.
Compare the proposed new Type A and B leases.
Summarize the effects the Proposed Lease Standards would have on the following: presentation on the financial statements; how assets and liabilities would be computed; the effect to lease expense due to “front-loading;” interest charges; year-end reporting; financial disclosure notes; and income taxes.
Interpret the present rules for evaluating a lease and whether it is capitalized or not.
