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New Real Estate Sale And Leaseback Accounting
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Journal Article
New Real Estate Sale And Leaseback Accounting
1989
Overview
The Financial Accounting Standards Board's new Statement of Accounting Standards (SFAS) 98 addresses many significant lease accounting issues. \"Lease term\" now includes all periods covered by ordinary renewal options during which a loan from the lessee to the lessor is expected to be outstanding. It also includes any and all periods for which failure to renew the lease imposes such a penalty on the lessee that, at the inception of the lease, renewal appears to be reasonably assured. This new definition will result in a greater number of leases being classified as capital leases. Under SFAS 98, sale and leaseback accounting should be used if a transaction involves the following: 1. a normal, active-use leaseback, 2. adequate initial and continuing investment by the buyer-lessor, and 3. no continuing involvement by the seller-lessee. The new requirements imposed by this statement may make sale and leaseback transactions less attractive to some owners.
Publisher
Aspen Publishers, Inc
Subject
