ACC 400 week 5 E-text Individual Assignments Chapter - 92599

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ACC 400 week 5 E-text Individual Assignments Chapter 13 Case 13-4 Application of SFAC No. 13, Case 23.1 & Case 23.2 Week 5: E-text Individual Assignments ACC/400 Week 5: E-text Individual Assignments Financial Accounting Theory and Analysis: Text Readings and Cases 8th edition Chapter 13: Case 13-4 Application of SFAC No. 13 a. What is the theoretical basis for the accounting standard that requires certain long-term leases to be capitalized by the lessee? Do not discuss the specific criteria for classifying a specific lease as a capital lease. The theoretical basis of the accounting standard that requires certain long-term leases to be capitalized by the lessee is based on the risks and the benefits associated with the assets, which are borne by the lessee. “The conceptual foundation underlying SFAS No. 13 is based on the view that ‘a lease that transfers substantially all of the benefits and risks inherent in the ownership of property should be accounted for as the acquisition of an asset and the incurrence of an obligation by the lessee and as a sale or financing lease by the lessor’” (Schroeder, Clark, & Cathey, 2005, p. 418)...
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ACC 400 week 5 E-text Individual Assignments Chapter 13 Case  13-4 Application of SFAC No. 13, Case 23.1 & Case 23.2
 
Week 5: E-text Individual Assignments
ACC/400
 
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