CPA Exam leases Simulation. Finance Lease Vs Operating Lease Vs Sales Type Lease.
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4 سال پیش
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In this video lecture, I
In this video lecture, I discuss CPA exam for Leases. On the CPA exam, students are expected to know the difference between finance lease versus operating lease.
✔️Accounting students and CPA Exam candidates, check my website for additional resources: https://farhatlectures.com/
📧Connect with me on social media: https://linktr.ee/farhatlectures
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What Is a finance Lease?
A finance lease is a contract entitling a renter to the temporary use of an asset, and such a lease has the economic characteristics of asset ownership for accounting purposes. The finance lease requires a renter to book assets and liabilities associated with the lease if the rental contract meets specific requirements. In essence, a finance lease is considered a purchase of an asset, while an operating lease is handled as a true lease under generally accepted accounting principles (GAAP).
✔️Accounting students and CPA Exam candidates, check my website for additional resources: https://farhatlectures.com/
📧Connect with me on social media: https://linktr.ee/farhatlectures
#CPAEXAM #intermediateaccounting#accountingstudent
What Is a finance Lease?
A finance lease is a contract entitling a renter to the temporary use of an asset, and such a lease has the economic characteristics of asset ownership for accounting purposes. The finance lease requires a renter to book assets and liabilities associated with the lease if the rental contract meets specific requirements. In essence, a finance lease is considered a purchase of an asset, while an operating lease is handled as a true lease under generally accepted accounting principles (GAAP).
4 سال پیش
در تاریخ 1399/07/19 منتشر شده
است.
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