1. Essay contrasting the former lease accounting rules with those under the recently adopted ASC 842 pronouncement,...
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Question:
1. Essay contrasting the former lease accounting rules with those under the recently adopted ASC 842 pronouncement, including:
- A brief summary of how accounting rule changes such as this are done
- Give an example how a transaction would have been recorded vs how it is to be done now under the new rules as part of your discussion on the change itself.
- Explain the specific rationale for this change in rules.
- Discuss the significance of the impact of the rule change especially to companies that have relied heavily on operating leases in the past.
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ISBN: 978-0132423502
4th Edition
Authors: Steven M Glover, Douglas F Prawitt
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