There are differences between the accounting methods required under GAAP and IFRS on how to account for leases. Outlining the differences, articulate your support for the accounting methods requirements of GAAP or IFRS. Please justify your answer using accounting principles and theory. Your initial posting should be in 300 words or more. You are encouraged to link financial statements under IFRS and/or GAAP to your reply for example purposes. Use at least two outside references for your initial posting, not including your textbook. Accounting articles are preferred.

Answer rating: 100% (QA)

According to GAAP almost all leases are considered as operating lease unless they fall under the cap... View the full answer