Question: Under SFAS No. 13, leases that do not meet one of the four criteria for a capital lease are treated as operating leases. Team 1:

Under SFAS No. 13, leases that do not meet one of the four criteria for a capital lease are treated as operating leases.

Team 1: Argue for the capitalization of leases that do not meet any of the SFAS No. 13 criteria for a capital lease. Your argument should take into consideration the conceptual framework definitions of assets and liabilities.

Team 2: Argue against the capitalization of leases that do not meet any of the SFAS No. 13 criteria for a capital lease. Your argument should take into consideration the matching principle and full disclosure.

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Team 1Argue for the capitalization of leases which do not meet the SFAS No 13 criteria for capitalization SFAC No 6 defines assets as probable future economic benefits obtained or controlled by a part... View full answer

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