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A&H publications have encouraged learning as well as delivered new industry practices which have contributed to the growth and development of the global equipment leasing and finance industry. Previous best-sellers, including The Handbook of Equipment Leasing and Winning With Leasing!, enriched the training led by A&H of more than 80,000 equipment leasing and finance professionals throughout the world. It is in this vein that we proudly present our two new publications, Leasing – The Creative Financing Alternative and Accounting for Leases – Embracing the New Paradigm.
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- Number of Pages: 435
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LEASING – THE CREATIVE FINANCING ALTERNATIVE
by
Sudhir Amembal
The accompanying two remarks are from participants at one of Mr. Amembal’s recent leasing seminars: “Mr. Amembal’s ability to distill concepts to their essence is remarkable”, and, “Structured, informative, detailed and relevant”. Mr. Amembal brings his clear, lucid, building-block teaching style into the narrative. Also, the entire publication is replete with easy-to-understand examples.
The publication was composed with three objectives in mind:
1. To provide direction on expanding business volume as well as profitability
This is cultivated in three chapters entitled Winning the Deal – Convincing the Customer; Winning the Deal – Outsmarting Competition; and, The Significance of Business Differentiation.
2. To provide clear and cohesive knowledge on topics of substantial significance
This is accomplished in four chapters which serve as an A-Z on Funding Options; Vendor Programs; Operating Leases; and, Measuring Financial Performance.
3. To provide insight into two new topics significantly impacting the industry
The pertinent narrative is contained in Navigating the New Accounting Standard, and Managed Services–The New Wave!
WHO WILL BENEFIT
The depth and breadth provided in the publication will make it immensely useful to the:
- Novice – as they will gain a thorough understanding on varied and diverse aspects that make leasing tick;
- Experienced – as the strong and complete narrative will fine-tune their skills and enhance their expertise;
- Sales and marketing personnel – as they will utilize the tools provided in the best way to retain existing clients and procure new ones;
- Back-end support staff – as they will achieve an appreciation and understanding of the complex world of leasing; and,
- Management – who will discover many implementable ideas to expand business volume and profitability!
The publication pulls together Mr. Amembal’s 40+ years of experience in the leasing industry not just as a consultant and educator; but, also as one who led a successful independent leasing company to its apex. Each chapter could have been a mini publication on its own!
Total number of pages: 435
- US$245* for U.S. Orders
- Click Here
- US$295 for International Orders
- Click Here
*Inclusive of sales taxes, if applicable.
Shipping and handling is included in the price. Please allow 2 weeks delivery for domestic orders; and, 3-4 weeks delivery for international orders.
International orders may be subject to customs, duties and/or fees levied by the destination country.
CHAPTER ONE: UNDERSTANDING THE LEASING INDUSTRY
- Introduction
- Overview of the Industry
- Industry Scope and Size
- The Evolution of Leasing
- Stages in the Evolution
- Rentals
- “Simple” Finance Leases
- “Creative” Finance Leases
- Operating Leases
- New Products
- Leveraged Leases
- Synthetic Leases
- TRAC Leases
- Venture Leases
- Managed Services
- Maturity
- Learning from Leasing’s Evolution
- Stages in the Evolution
- Drivers and Motivators
- The Economic Environment
- Funding
- Turnover of Plant and Machinery
- The Character of the Marketplace
- Extent of Competition
- Basis of Competition
- Lessee Awareness
- Product Sophistication
- Adequacy of Skilled Human Talent
- Public Policy
- Legal
- Tax
- Regulatory
- Accounting
- Management Focus
- Ingredients of Success
- Find
- Fund
- Service
- Conclusion
CHAPTER TWO: WINNING THE DEAL – CONVINCING THE CUSTOMER
- Introduction
- Convincing the Customer to Lease
- The Benefits of Leasing
-
- Cash Flow
- Financing 100 Percent of Equipment Cost
- Financing 100 Percent of Solution
- Lower Payment
- Structured Leases
- Temporary Budget Constraints
- Improved Cash Forecasting
- Availing of Lessor Volume Discounts
- Captive Subsidies
- Cash Flow
- Tax
- Faster Deduction from Rent Expense
- Reciprocity of Tax Benefits
- U.S.A. Nuances
- 100 Percent Expensing
- Used Equipment and Sale-Leasebacks
- Limitations on Deductibility of Interest Expense
- U.S.A. Tax Benefits Based on Product Type
- Financial Reporting
- Ratio Improvement
- Higher Earnings
- Increase in Working Capital
- Hedge against Obsolescence
- Convenience and Flexibility
- Full-Service Leases
- Lower Level of Decision-Making
- Priority Delivery
- End-of-Term Flexibility
- Planned Replacement of Equipment
- Control over Vendor
- Faster Response Time
- Financial
- Availability of Financing
- No Additional Collateral
- Fixed-Rate Financing
- Financial Diversification
- Single Obligor Limits
- Preserving Existing Bank Lines
- Avoidance of Financial Covenants
- Captive Financing to “Poorer” Credits
- Less Expensive!
-
- Countering Common Objections
- List of Common Objections
- Leasing is More Expensive
- Preference to Pay Cash
- The Psychology of Ownership
- Leasing is Complex
- Non-Cancelable Leases
- Control Over Core Assets
- Countering the Objections
- List of Common Objections
- The Benefits of Leasing
- The Equipment Acquisition Process
- Capital Expenditure Decision
- Financing Decision
- Lessor Selection Process
- Lease versus Lease Analysis
- Financing Decision – Lease Versus Purchase Analysis
- Lease versus Cash
- Lease versus Loan
- Data Needed for Lease versus Purchase Analysis
- Choice of a Discount Rate
- Interest Minimization
- Liquidity Preference
- Choice of a Discount Rate
- Finance Lease versus Cash Illustration
- Analysis
- Present Value
- Break-Even Discount Rate
- Winning the Deal!
- Operating Lease versus Cash Illustration
- Analysis
- Present Value
- Break-Even Discount Rate
- Winning the Deal!
- Conclusion
CHAPTER THREE: WINNING THE DEAL – OUTSMARTING COMPETITION
- Introduction
- Understanding Customer Needs
- The Two Types of Customers
- Communicating the Benefits of Leasing
- A Summary of the Benefits
- How to Best Communicate the Benefits
- Catering to Customer Needs
- Cash-Flow-Motivated Customers
- Tax-Motivated Customers
- Customers Seeking Financial Reporting Benefits
- Customers Seeking Hedge Against Obsolescence
- Customers Seeking Convenience and Flexibility
- Financially Motivated Customers
- Tailoring the Product to Match Customer Needs
- Attracting New Customers – Retaining Existing Ones
-
- Qualities of the Ideal Lessor
- Market Rates
- Responsiveness
- Service
- Flexibility
- Diversified Product Offerings
- Fair Terms and Conditions
- Experienced Staff
- Knowledge of the Customer’s Business
- Integrity
- Financial Strength
- Vendor Relations
- Qualities of the Ideal Lessor
-
- Lease versus Lease Analysis
- Qualitative
- Quantitative
- Cash Flow versus Interest Rate
- Present Value
- Structuring to Win the Deal
- Conclusion
CHAPTER FOUR: THE SIGNIFICANCE OF BUSINESS DIFFERENTIATION
- Introduction
- A Buyers’ Market
- Ingredients of a Buyers’ Market
- Numerous Providers of Lease Finance
- New Low-Cost Providers
- Lack of Product Differentiation
- Intensive Competition between Lessors
- Shrinking Margins
- Ingredients of a Buyers’ Market
- Strategies to Overcome Shrinking Margins
- Product Differentiation
- Differentiation Variables
- Niche Markets
- Varied Niches
- Benefits of Niches
- Product Diversification
- Product Innovation
- Value-Add Approach
- Pricing Discipline
- Objectives in Pricing Leases
- Approaches to Pricing
- Using Pricing Discipline
- Product Differentiation
- Key Drivers of Success
- Conclusion
CHAPTER FIVE: OPERATING LEASES – MAXIMIZING PROFITS, MINIMIZING RISKS
- Introduction
- Definition
-
- Marketplace
- Residual Value
- Full-Payout versus Non-Full-Payout
- End-of-Term Events
- Net or Full-Service
- The Essential Difference
- Accounting
- International Perspective Pre the New Accounting Standard
- U.S.A. Perspective Pre the New Accounting Standard
- Accounting Impact Pre the New Accounting Standards
- International Perspective Post the New Accounting Standard
- U.S.A. Perspective Post the New Accounting Standard
- Accounting Impact Post the New Accounting Standards
- Taxation
- Definition of an Operating Lease
- Tax Impact
- Marketplace
-
- Benefits of the Product
- Unique Benefit to Lessees
- Cash Flow
- 100-Percent Financing
- Financing Entire Solution
- Lower Rental
- Tax
- Financial Reporting
- Partial Off-Balance Sheet Financing
- Stronger Ratios
- Higher Earnings
- Hedge against Obsolescence
- Existence of Residual Value
- Early Termination Options
- Technology Refresh
- Upgrades
- Convenience and Flexibility
- End-of-Term Flexibility
- Facilitates Replacement Decision
- Full-Service Leases
- Financial
- No Additional Collateral
- No Financial Covenants
- Cheapest Mode of Acquisition!
- Cash Flow
- Unique Benefits to Lessors
- Inception
- Duration
- Termination
- Other Benefits
- Unique Benefit to Lessees
- Managing Varied Risks
- Financial Reporting Risk
- Managerial Reporting Risk
- Funding Risk
- Pricing Risk
- Residual Risk
- Factors Impacting Residual Value
- Manufacturer-Related
- Economic and Regulatory
- Lessee-Related
- Asset-Related
- Lessor-Related
- Controllable and Non-Controllable Factors
- Mitigating Residual Risk
- Eliminating Entire Residual Risk
- Eliminating Partial Residual Risk
- Vendor-Guaranteed Residual
- Insurance-Company-Guaranteed Residual
- Managing Residual Risk
- Asset Evaluation
- Residual Estimation
- Appropriate Documentation
- Maintenance and Inspection
- Remarketing
- Factors Impacting Residual Value
- Conclusion
CHAPTER SIX: PROFITING FROM VENDOR LEASING
- Introduction
- Definition
- Vendor Motivations
- Asset Life Cycle Management
- Market Control
- Initial Sale
- Sales during Term
- Disposition
- Control over Used Equipment Prices
- Market Enhancement
- Increased Sales Volume
- Preservation of Selling Price
- Competitive Advantage
- Ancillary Income
- Direct Income from Leases
- Full-Service Leases
- Residual Profit
- Revenue Recognition
- Outright Sale to End User
- Sale to Third-Party Lessor with No Recourse
- Sale to Third-Party Lessor with Limited Recourse
- Sale to Third-Party Lessor with Recourse
- Vendor Books the Lease
- Finance Lease
- Operating Lease
- Services to Parent Company
- Parent’s Leasing Requirements
- Diversifying the Parent’s Income Sources
- Types of Vendor Leasing Programs
- Referral
- Third Party
- Private Label
- Virtual Joint Venture
- Joint Venture
- Choosing the Best Program
- Vendor’s Point of View
- Benefits of a Captive
- Disadvantages of a Captive
- Captive Statistics
- Lessor’s Point of View
- Significance of Vendor Programs to Lessors
- Vendor’s Point of View
- Benefits to the Parties
- Benefits to the Lessor
- New Delivery Channel
- Reliable Source of New Business
- Leverage Vendor’s Salesforce
- Lower Cost of Doing Business
- No Competition
- Incremental Volume from Vendor’s Customers
- Higher Profits
- Risk Sharing with Vendor
- Benefits to the Vendor
- Reliable Source of Financing
- No Carrying of Receivables
- Better Cash Management
- Increased Volume
- Higher Gross Profit Margins
- Transaction Control
- Increased Customer Retention
- Increased Compensation to Sales Representatives
- Benefits to the Customer
- Point-of-Sale Financing
- Competitive Rates
- Selecting the Right Vendor
- Desired Vendor Qualities
- Appropriate Due Diligence
- Vendor-Based
- Vendor’s Salesforce
- Vendor’s Customers
- Responsibilities of the Parties
- Lessor Responsibilities
- Vendor Responsibilities
- Elements of the Agreement
- Program-Related Items
- Program Process
- Program Risks
- Vendor Performance Risk
- Risk Mitigation
- Credit Risk Mitigation
- Asset Risk Mitigation
- First-Net Loss Residual Guaranty
- Repurchase or Buy-Back Agreements
- Blind Discounts
- Vendor Equity Insertion
- Remarketing Agreement
- Benefits to the Lessor
- Conclusion
CHAPTER SEVEN: FUNDING THE COMPANY
- Introduction
- Funding Objectives
- Leverage/Gearing
- Significance of Leverage
- Impact of Leverage
- Gearing Ratio
- Weighted Average Cost of Capital
- Computation of the Weighted Average Cost of Capital
- Significance of the Weighted Average Cost of Capital
- Significance of Gearing and Cost of Debt to Pricing
- Significance of Gearing
- Significance of Cost of Debt
- Ideal Leverage
- Funding Approaches
- Pooling
- Match Funding
- Sources of Funding
- Bank Loans
- Revolving Credit Lines
- Term Loans
- Discounting
- Warehouse Lines
- Temporary Funding
- Aging Leases
- Leveraged Leases
- Lessees Seeking Operating Leases
- Lessors Seeking Funding
- Syndicated Leveraged Leases
- Capital Markets
- Commercial Paper
- Bonds
- Private Sources
- Parent Company
- Subordinated Debt
- Securitization
- Purpose
- Tranches
- Structure
- Credit Enhancement
- Parties Involved
- Benefits to the Lessor
- Funding
- Off-Balance Sheet Financing
- Acceleration of Income
- Portfolio Management
- Fee Income
- Income Funds
- Objectives
- Structure
- Roles of Varied Parties
- Illustration
- Key Features
- Investments
- Borrowings
- Lease Origination
- Tax-Advantaged Cash Flow
- Phases of an Income Fund
- Benefits to the Lessor
- Syndication
- Reasons for Syndication
- Portfolio Management
- Fee Income
- Funding
- Reasons for Syndication
- Pension Funds and Insurance Companies
- Development Finance Institutions
- Money Market Funds
- Bank Deposits
- Bank Loans
- Conclusion
CHAPTER EIGHT: MEASURING FINANCIAL PERFORMANCE
- Introduction
- Yield Analysis
- Transaction Rates and Yields
- Types of Rates and Yields
- Street Rate
- Flat Rate
- All-Inclusive Rate
- All-Inclusive Yield
- Types of Rates and Yields
- Portfolio Yields
- Return on Assets versus Return on Investment
- Return on Equity
- Global Averages
- Analysis of Portfolio Yields
- DuPont Model for Return on Assets
- DuPont Model for Return on Equity
- Transaction Rates and Yields
- Key Financial Ratios
- Capital Structure
- Gearing Ratio
- Capitalization
- Debt Service
- Times Interest Earned
- Financial Debt to Net Leased Assets
- Liquidity
- Current Ratio
- Asset Liability Management Schedule
- Profitability
- Portfolio Spread
- Cost to Income Ratio
- Portfolio Performance
- Capital Structure
- Cost Control
- Allocating Expenses to Find, Fund, and Service
- Conclusion
CHAPTER NINE: NAVIGATING THE NEW ACCOUNTING STANDARD
- Introduction
- History of the Changes
- New Requirements
- Lessees
- Setting Up the Lease Liability
- Recording the ROU Asset
- Subsequent Measurement
- Reassessment
- Lessors
- Finance Lease
- Finance Lease with Sales Profit
- Operating Lease
- Differences between the Two Standards
- Lessees
- Disclosures
- Transition
- Impact
- Lessee Impact
- Lessor Impact
- Strategies
- Conclusion
CHAPTER TEN: MANAGED SERVICES – THE NEW WAVE
- Introduction
- Managed Services and Stakeholders Defined
- Term-Based Subscription Models
- Consumption Models
- Stakeholders
- Influence of a Sharing Economy
- Powered by Connectivity
- Operational Challenges
- Market Analysis
- Define the Addressable Market
- Identify Potential Elements of the Offering
- Solicit Feedback
- Establish Priorities
- Risk Analysis
- Credit Risk
- Residual Risk
- Performance Risk
- Cancellation Risk
- Data Security Risk
- Accounting Risk
- Funding Options
- Third-Party Funding Options
- Internal Funding Options
- Alliance Strategies
- Establish Focal Points
- Establish Customer Engagement Process
- Develop Cross-Training
- Develop Aligned Incentive Programs
- Legal Readiness
- End-User Contract Templates
- Assignment of Receivables
- Contract Change and Approval Process
- Business Transformation
- Define the Offering Structures
- Organizational Planning
- IT Planning
- Funding for Execution
- Quality Assurance
- Asset Management
- Accurate Asset and Usage Tracking
- Optimizing Asset Value
- Pricing
- Establish Guidelines
- Competitive Practices
- Accounting for Service Providers
- Transaction Structure
- Financing
- Recourse and Risk
- Value Proposition
- Align the Sales and Marketing Strategy
- Internal Communication Plans
- Market Analysis
- Conclusion
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- Number of Pages: 424
- US$245* for U.S. Orders
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- US$295 for International Orders
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- *Inclusive of sales taxes, if applicable.
ACCOUNTING FOR LEASES – EMBRACING THE NEW PARADIGM
by
Shawn Halladay
The mandatory and complex changes to accounting for leases impact company operations beyond the accounting function, including how the sales teams should approach their customers. In his latest book, Mr. Halladay, through his extensive theoretical knowledge and experience applying that knowledge, uses a practical, example-laden approach to create an environment in which this technical subject is made easier to understand and apply.
WHO WILL BENEFIT
U.S. and international companies alike will find value in this essential publication, as it lays out the substantial overlap in the two standards and highlights where they differ not only from each other but also from prior guidance. Filled with examples and clear explanations, this book assists lease accounting and other financial personnel to properly report and comply with the rules, and also provides:
- Management with an essential understanding of the impact of the new accounting on current and future business
- Sales teams with the tools to identify and better appreciate their customers’ needs and issues
- Lessees with the knowledge to apply the significant changes created by IFRS 16 and ASC 842 to their business
Total number of pages: 424
- US$245* for U.S. Orders
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- US$295 for International Orders
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*Inclusive of sales taxes, if applicable.
Shipping and handling is included in the price. Please allow 2 weeks delivery for domestic orders; and, 3-4 weeks delivery for international orders.
International orders may be subject to customs, duties and/or fees levied by the destination country.
CHAPTER ONE: ARRIVING AT THE NEW STANDARDS
- Introduction
- Leasing and Accounting
- History of Lease Accounting
- U.S. Lease Accounting Rules
- International Lease Accounting Rules
- History of Lease Accounting
- Prior Guidance
- Lease Classification
- Lessees
- Lessors
- Lease Classification
- The Lease Accounting Project
- Overview of the Standards
- Scope of the New Standards
- Scope Exceptions
- Short-Term Leases
- Low-Value Assets
- Portfolio-Level Accounting
- Accounting Policy Elections
- Scope Exceptions
- Differences between the Standards
- Conclusion
CHAPTER TWO: IDENTIFYING LEASES
- Introduction
- Various Definitions of a Lease
- Industry Perspective
- Income Tax Perspective
- Legal Perspective
- Accounting Perspective
- Accounting Definition of a Lease
- Lessee Accounting
- Lessor Accounting
- The Process of Identifying a Lease
- Identified Assets
- Explicitly Specified Assets
- Implicitly Specified Assets
- Substantive Substitution Rights
- Practical Ability to Substitute
- Benefit Economically by Substitution
- Portions of Assets
- Capacity Portions
- Shared Portions
- Right to Control the Use
- Obtain the Economic Benefits
- Substantially All
- Protective Rights
- Direct the Use
- Direct the Operations
- Obtain the Economic Benefits
- Comprehensive Example
- Analysis
- Conclusion
CHAPTER THREE: DEFINITIONS AND COMMON GUIDANCE
- Key Definitions and Terminology
- Lease Commencement
- Lease Payments
- Variable Payments
- Lessee Guaranteed Residuals
- Bargain Purchase Options
- Refundable Security Deposits
- Penalties
- Lease Term
- Options to Extend the Lease
- Options to Terminate the Lease
- Discount Rate
- Lessor
- Lessee
- Estimated Economic Life
- Estimated Residual Value
- Fair Value of the Underlying Asset
- Initial Direct Costs
- Lease Classification
- Classification Criteria
- Transfer of Ownership
- Bargain Purchase Option
- Economic Life
- Present Value
- Specialized Asset
- Other Classification Considerations
- Lease Classification Example
- Classifying the Lease
- Classification Criteria
- Lease Classification under 842
- Lessee
- Lessor
- Example
- Separating Lease and Non-Lease Components
- Contract Elements
- Practical Expedients
- Identify the Lease Components
- Identify the Non-Lease Components
- Measure the Contract Consideration
- Lessees
- Lessors
- Allocate the Contract Consideration
- Lessees
- Lessors
- Reallocation of the Consideration
- Contract Elements
- Conclusion
CHAPTER FOUR: LESSEE ACCOUNTING
- General Requirements
- Booking the Lease
- Recording the Lease Liability
- Lease Term
- Lease Payments
- End-of-Term Payments
- Discount Rate
- Recording the ROU Asset
- Initial Direct Costs
- Prepaid Lease Payments
- Lease Incentives
- Recording the Lease Liability
- Subsequent Measurement of the Lease
- Amortizing the Lease Liability
- Depreciating the ROU Asset
- Impairments
- Measuring Operating Leases under ASC 842
- Classifying the Lease
- Recording the Lease Liability
- Recording the ROU Asset
- Recognizing the Lease Expense
- Amortizing the Lease Liability
- Depreciating the ROU Asset
- Periodic Lease Expense
- Impairments
- Comprehensive Example
- Recording the Lease Liability
- Recording the ROU Asset
- Amortizing the Lease Liability
- Depreciating the ROU Asset
- Financial Statement Presentation
- ASC 842 Operating Lease Differences
- Other Lessee Accounting Issues
- Reassessment of Lease Liability
- Rollover of an Existing Lease
- Early Terminations
- Accounting for Deposits
- Security Deposits
- Maintenance Reserves
- Conclusion
CHAPTER FIVE: LESSOR ACCOUNTING
- Introduction
- Finance Leases
- Finance Leases without Selling Profit
- Booking the Lease
- The Earning Process
- Example
- Finance Leases with Selling Profit
- Example
- Comprehensive Finance Lease Example
- Classifying the Lease
- Booking the Lease
- The Earning Process
- Deferred Tax Allocations
- Financial Statement Presentation
- Other Finance Lease Issues
- Lease Terminations
- Impairments
- Losses at Lease Commencement
- Finance Leases without Selling Profit
- Operating Leases
- Characteristics
- Booking the Lease
- The Earning Process
- Depreciation Techniques
- Example
- Classifying the Lease
- Booking the Lease
- The Earning Process
- Lease Terminations
- Impairments
- Management Reporting Issues
- Distorted Returns
- Residual Value Insurance
- Comprehensive Operating Lease Example
- Classifying the Lease
- Booking the Lease
- The Earning Process
- Deferred Tax Allocations
- Financial Statement Presentation
- Conclusion
CHAPTER SIX: LESSOR ACCOUNTING UNDER ASC 842
- Introduction
- Sales-Type Leases
- Sales-Type Leases without Selling Profit
- Booking the Lease
- The Earning Process
- Example
- Sales-Type Leases with Selling Profit
- Example
- Comprehensive Sales-Type Lease Example
- Classifying the Lease
- Booking the Lease
- The Earning Process
- Deferred Tax Allocations
- Financial Statement Presentation
- Other Sales-Type Lease Issues
- Lease Terminations
- Impairments
- Guaranteed Minimum Resale Value
- Losses at Lease Commencement
- Sales-Type Leases without Selling Profit
- Direct Financing Leases
- Example
- Classifying the Lease
- Booking the Lease
- The Earning Process
- Residual Value Insurance
- Example
- Operating Leases
- Characteristics
- Booking the Lease
- The Earning Process
- Depreciation Techniques
- Example
- Classifying the Lease
- Booking the Lease
- The Earning Process
- Lease Terminations
- Impairments
- Test for Recoverability
- Measure the Impairment
- Management Reporting Issues
- Distorted Returns
- Residual Value Insurance
- Comprehensive Operating Lease Example
- Classifying the Lease
- Booking the Lease
- The Earning Process
- Deferred Tax Allocations
- Financial Statement Presentation
- Conclusion
CHAPTER SEVEN: SPECIALIZED ACCOUNTING CONSIDERATIONS
- Introduction
- Sale-Leasebacks
- Motivations for Sale-Leasebacks
- General Guidance
- IFRS 16 Guidance
- Normal Sale-Leasebacks
- Failed Sale-Leasebacks
- ASC 842 Guidance
- Normal Sale-Leasebacks
- Failed Sale-Leasebacks
- Prior Seller-Lessee Control
- Off-Market Transactions
- Subleases
- Standard Subleases
- Original Lessor
- Original Lessee/Sublessor
- Sublessee
- Non-Standard Subleases
- Original Lessor
- Original Lessee/Sublessor
- Sublessee
- Other Sublease Issues
- Losses on Subleases
- Wrap Leases
- Standard Subleases
- Leveraged Leases
- Characteristics
- Example
- Booking the Lease
- The Earning Process
- Deferred Tax Allocations
- Financial Statement Presentation
- Grandfathering Issues
- Changes in Major Assumptions
- Modifications
- Lease Modifications
- Additional Right of Use
- No Additional Right of Use
- Lessee Accounting
- Lessor Accounting
- Modified Operating Leases
- Modified Finance Leases
- Transfers of Lease Receivables
- Accounting Treatment
- Gain on Sale Criteria
- Unguaranteed residuals
- Conclusion
CHAPTER EIGHT: IMPACT AND STRATEGIES
- Introduction
- Impact on Lessees and Lessors
- Lessee Impact
- Lease Capitalization
- Lease Expense
- Financial Covenants
- Lease Definition
- Sale-Leasebacks
- Regulatory Capital
- Additional Effort
- Increased Oversight
- Other Factors
- Lessor Impact
- Lease Definition
- Additional Effort
- Increased Structuring
- ASC 842 Lessors
- Lessor Marketing Strategies
- Preparation is Key
- Partial Off-Balance Sheet Financing
- Minimizing the Liability
- Analysts Ratings
- Financial Covenants
- ASC 842 Operating Lease Liabilities
- EBITDA
- TRAC Leases
- Regulatory Capital
- Sale-Leasebacks
- Substantial, Non-Accounting Benefits
- Conclusion
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