Accouting 306- Final Paper on “Leases” Must address everything for paper

Final Paper Instructions: Many companies use leases to acquire higher priced assets. Leasing is an important activity for many entities. Presently some leases are capitalized and some are treated as operating leases. Opponents of this method criticize the accounting treatment because the present models do not meet the needs of users of financial statements because they do not always provide a faithful representation of leasing transactions. One reason is that operating leases are not capitalized. The International Accounting Board has issued a Proposed Accounting Standards Update (Links to an external site.)Links to an external site. (topic 842) which proposes significate changes to lease accounting. Write a five- to seven-page paper, formatted according to APA style as outlined in the Ashford Writing Center (Links to an external site.)Links to an external site.. *** Your paper should also cite five of the research links below and include an in text citation, a quote from the article. Section heading titles should be centered and in bold.****** Address the following questions: Introduction Explain the present rules for evaluating a lease and whether it is capitalized or not. Explain the new lease accounting rules. What affect will these new rules have on the balance sheet, the income statement and the cash flow statement? What industries would be affected more than others? Explain the proposed new Type A and B lease and the differences. Explain the effects of the proposed lease standards would have on the following: Presentation on the financial statements. How assets and liabilities would be computed. The effect to lease expense due to “Front Loading.” Interest charges. Year-end reporting. Financial disclosure notes. Income taxes. Conclusion The following links can be used for your research: FASB Issues Lease Rules; Will Have Big Balance Sheet Impacts: http://www.bna.com/fasb-issues-lease-n57982067931/ (Links to an external site.)Links to an external site. FASB, IASB Revised Proposals Would Cause Significant Lease Accounting Changes: http://www.bna.com/fasb-iasb-revised-n17179874062/ (Links to an external site.)Links to an external site. New Accounting Proposal on Leasing Portends Big Changes: http://dealbook.nytimes.com/2013/05/16/significant-changes-proposed-in-lease-accounting/ (Links to an external site.)Links to an external site. Leases: Final Approach or Go-around?: https://www.kpmg.com/Global/en/IssuesAndInsights/ArticlesPublications/Documents/leases-final-approach-or-go-around.pdf (Links to an external site.)Links to an external site. New Lease Standards May Demand Two Sets of Books: http://ww2.cfo.com/gaap-ifrs/2016/01/new-lease-standards-may-demand-two-sets-books/ (Links to an external site.)Links to an external site. New Accounting Standards Will Affect Lease Reporting: http://www.truckinginfo.com/article/story/2015/12/new-accounting-standards-will-affect-lease-reporting.aspx (Links to an external site.)Links to an external site. Congress of the United States: https://www.reit.com/sites/default/files/media/Files/Policy/Letter-to-FASB-re-Lease-Accounting-5-17-12.pdf (Links to an external site.)Links to an external site. Proposed Lease Standard Facing Congressional Opposition: http://www.schneiderdowns.com/proposed-lease-standard-facing-congressional-opposition (Links to an external site.)Links to an external site. All Systems Go for FASB Lease Accounting Overhaul: http://www.accountingweb.com/aa/standards/all-systems-go-for-fasb-lease-accounting-overhaul (Links to an external site.)Links to an external site. In depth: The leasing standard – A comprehensive look at the new model and its impact: http://www.pwc.com/us/en/cfodirect/publications/in-depth/fasb-lease-accounting-model-asc-842.html (Links to an external site.)Links to an external site. IASB issues leases standard; FASB to follow: http://www.cgma.org/magazine/news/pages/iasb-issues-leases-standard-201613694.aspx?TestCookiesEnabled=redirect (Links to an external site.)Links to an external site. FASB Lease Accounting: http://proleasesoftware.com/integrated-modules/lease-module/fasb-lease-accounting/?gclid=CJH-3PWTvMsCFUI6gQod4AcOag (Links to an external site.)Links to an external site. New lease Accounting Standards are coming. Will you be ready?: http://www.visuallease.com/fasb?gclid=CLvf0rKUvMsCFU0vgQodpbsLXg (Links to an external site.)Links to an external site. New FASB Lease Standard Could Inflate Balance Sheets: http://ww2.cfo.com/accounting-tax/2016/02/new-fasb-lease-standard-inflate-balance-sheets/ (Links to an external site.)Links to an external site. The Final Paper Must be five to seven double-spaced pages in length, excluding the title page and reference page and formatted according to APA style as outlined in the Ashford Writing Center. Your paper should cite five of the research links above and include an in text citation, a quote from the article. Must use at least five scholarly sources listed above. Be sure to integrate your research (Links to an external site.)Links to an external site. rather than simply insert it. Must document all sources in APA style as outlined in the Ashford Writing Center and here (Links to an external site.)Links to an external site. and here (Links to an external site.)Links to an external site.. Must include a separate reference page, formatted according to APA style as outlined in the Ashford Writing Center

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