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Essay / Research Paper Abstract
This 7-page paper discusses leasing versus ownership and how this is reported in a financial statement. Bibliography lists 4 sources.
Page Count:
7 pages (~225 words per page)
File: AS43_MTleasdisc.rtf
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Unformatted sample text from the term paper:
the owner has to make pertains to equipment and facilities; whether its better to lease or buy. There are many pros and
cons to both leasing and buying, especially from an accounting perspective. It could be assumed that leasing might be simpler when it comes to financial reporting, but this isnt necessarily
the case - sometimes reporting leasing can be more complex than simply purchasing the asset. Despite this, there are very good reasons
why a business owner may decide to consider leasing an asset versus buying one. Leases and Financial Reporting To better understand how a
lease would operate, it would first be a good idea to determine what, exactly, a lease is. In its most basic form, a lease is a written agreement under which
the owner of property or equipment of some kind allows another entity to use the property/equipment for a certain period of time (Lease). Companies can lease just about anything from
buildings and land, to equipment. Even personnel can be leased - as in temporary help. Needless to say, payments for any kind of
leased corporate assets need to be accounted for in financial statements. But leases, unlike, say, equipment or land, dont belong to the company, so they cant really be considered assets
of the company; they dont really belong to the cmpany. Rather, there are two accounting methods that can be used for each type of lease; operating or capital.
A capital lease is a situation in which the current value of an asset and its associated liabilities is treated as a debt, with the
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