西方财务会计 原版课件21

Chapter21-1Chapter21-2CHAPTER21ACCOUNTINGFORLEASESIntermediateAccounting13thEditionKieso,Weygandt,andWarfieldChapter21-31.Explainthenature,economicsubstance,andadvantagesofleasetransactions.2.Describetheaccountingcriteriaandproceduresforcapitalizingleasesbythelessee.3.Contrasttheoperatingandcapitalizationmethodsofrecordingleases.4.Identifytheclassificationsofleasesforthelessor.5.Describethelessor’saccountingfordirect-financingleases.6.Identifyspecialfeaturesofleasearrangementsthatcauseuniqueaccountingproblems.7.Describetheeffectofresidualvalues,guaranteedandunguaranteed,onleaseaccounting.8.Describethelessor’saccountingforsales-typeleases.9.Listthedisclosurerequirementsforleases.LearningObjectivesChapter21-4LeasingEnvironmentWhoareplayers?AdvantagesofleasingConceptualnatureofaleaseAccountingbyLesseeAccountingbyLessorSpecialAccountingProblemsCapitalizationcriteriaAccountingdifferencesCapitalleasemethodOperatingmethodComparisonResidualvaluesSales-typeleasesBargain-purchaseoptionInitialdirectcostsCurrentversusnoncurrentDisclosureUnresolvedproblemsEconomicsofleasingClassificationDirect-financingmethodOperatingmethodAccountingforLeasesChapter21-5Largestgroupofleasedequipmentinvolves:InformationtechnologyTransportation(trucks,aircraft,rail)ConstructionAgricultureLO1Explainthenature,economicsubstance,andadvantagesofleasetransactions.Aleaseisacontractualagreementbetweenalessorandalessee,thatgivesthelesseetherighttousespecificproperty,ownedbythelessor,foraspecifiedperiodoftime.TheLeasingEnvironmentChapter21-6Threegeneralcategories:Banks.Captiveleasingcompanies.Independents.LO1Explainthenature,economicsubstance,andadvantagesofleasetransactions.WhoArethePlayers?TheLeasingEnvironmentChapter21-71.100%FinancingatFixedRates.2.ProtectionAgainstObsolescence.3.Flexibility.4.LessCostlyFinancing.5.TaxAdvantages.6.Off-Balance-SheetFinancing.TheLeasingEnvironmentLO1Explainthenature,economicsubstance,andadvantagesofleasetransactions.AdvantagesofLeasingChapter21-8Capitalizealeasethattransferssubstantiallyallofthebenefitsandrisksofpropertyownership,providedtheleaseisnoncancelable.Leasesthatdonottransfersubstantiallyallthebenefitsandrisksofownershipareoperatingleases.TheLeasingEnvironmentLO1Explainthenature,economicsubstance,andadvantagesofleasetransactions.ConceptualNatureofaLeaseChapter21-9OperatingLeaseCapitalLeaseJournalEntry:RentexpensexxxCashxxxJournalEntry:LeasedequipmentxxxLeaseliabilityxxxTheissueofhowtoreportleasesisthecaseofsubstanceversusform.Althoughtechnicallylegaltitlemaynotpass,thebenefitsfromtheuseofthepropertydo.Aleasethattransferssubstantiallyallofthebenefitsandrisksofpropertyownershipshouldbecapitalized(onlynoncancellableleasesmaybecapitalized).TheLeasingEnvironmentLO1Explainthenature,economicsubstance,andadvantagesofleasetransactions.Chapter21-10Ifthelesseecapitalizesalease,thelesseerecordsanassetandaliabilitygenerallyequaltothepresentvalueoftherentalpayments.Recordsdepreciationontheleasedasset.Treatstheleasepaymentsasconsistingofinterestandprincipal.AccountingbytheLesseeLO2Describetheaccountingcriteriaandproceduresforcapitalizingleasesbythelessee.TypicalJournalEntriesforCapitalizedLeaseIllustration21-2Chapter21-11Torecordaleaseasacapitallease,theleasemustbenoncancelable.Oneormoreoffourcriteriamustbemet:1.Transfersownershiptothelessee.2.Containsabargain-purchaseoption.3.Leasetermisequaltoorgreaterthan75percentoftheestimatedeconomiclifeoftheleasedproperty.4.Thepresentvalueoftheminimumleasepayments(excludingexecutorycosts)equalsorexceeds90percentofthefairvalueoftheleasedproperty.AccountingbytheLesseeLO2Describetheaccountingcriteriaandproceduresforcapitalizingleasesbythelessee.Chapter21-12LO2Describetheaccountingcriteriaandproceduresforcapitalizingleasesbythelessee.LeaseAgreementLeasesthatDONOTmeetanyofthefourcriteriaareaccountedforasOperatingLeases.AccountingbytheLesseeIllustration21-4Chapter21-13CapitalizationCriteriaLO2Describetheaccountingcriteriaandproceduresforcapitalizingleasesbythelessee.AccountingbytheLesseeTransferofOwnershipTestNotcontroversialandeasilyimplemented.Bargain-PurchaseOptionTestAttheinceptionofthelease,thedifferencebetweentheoptionpriceandtheexpectedfairmarketvaluemustbelargeenoughtomakeexerciseoftheoptionreasonablyassured.Chapter21-14CapitalizationCriteriaLO2Describetheaccountingcriteriaandproceduresforcapitalizingleasesbythelessee.AccountingbytheLesseeEconomicLifeTest(75%Test)Leasetermisgenerallyconsideredtobethefixed,noncancelabletermofthelease.Bargain-renewaloptioncanextendthisperiod.Attheinceptionofthelease,thedifferencebetweentherenewalrentalandtheexpectedfairrentalmustbegreatenoughtomakeexerciseoftheoptiontorenewreasonablyassured.Chapter21-15RecoveryofInvestmentTest(90%Test)LO2AccountingbytheLesseeMinimumLeasePayments:MinimumrentalpaymentGuaranteedresidualvaluePenaltyforfailuretorenewBargain-purchaseoptionExecutoryCosts:InsuranceMaintenanceTaxesExcludefromPVofMinimumLeasePaymentCalculationCapitalizationCriteriaChapter21-16AccountingbytheLesseeDiscountRateLesseecomputesthepresentv