Accounting Standards Codification (ASC) Topic 840, Leases, and its subtopics establish standards of accounting and reporting by lessees and lessors for leases overall, and for specific classifications of leases. ASC 840 contains four subtopics: ASC 840‐10, overall; ASC 840‐20, operating leases; ASC 840‐30, capital leases; and ASC 840‐40, sale‐leaseback transactions. ASC 840 applies to all entities. However, to be considered a lease the right to use property, plant, or equipment must be transferred from one contracting party to the other.” ASC 840‐10‐35 provides guidance on determining when all or part of an arrangement constitutes a lease. Lease treatment is not precluded in situations where the owner or manufacturer of the property has extended a product warranty that includes a provision for replacement of the property if it is not operating adequately.
ASC 840 LEASES 1
Wiley GAAP ; 657-663
2020-10-20
7 pages
Aufsatz/Kapitel (Buch)
Elektronische Ressource
Englisch
Wiley | 2016
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