Nearly every company finds itself involved in a leasing transaction at some point. This could be a simple transaction such as leasing existing office space or equipment, or a more complex set of build-to-suit synthetic lease transactions. The rules dealing with accounting for leases are complex and often raise implementation issues.

Accounting for Leases offers paragraph-by-paragraph interpretations of Statement 13, Accounting for Leases, as amended, and clarifies many implementation issues companies face. It also discusses how to treat leasing transactions in areas not specifically addressed by the FASB, and areas that require further explanation.

This publication incorporates FASB Statement No. 98, Accounting for Leases; and FASB Interpretation No. 21, Accounting for Leases in a Business Combination. It also considers FASB Statements 141, 144 and 146; FASB Interpretations No. 45 and 46; and other literature from the FASB, AICPA, and SEC.

For companies involved in leasing transactions and for those that are focused on keeping assets and debt off-balance-sheet, this publication provides invaluable and comprehensive guidance.

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