Details

Autor(en) / Beteiligte

• Arcady, Alex T
• Herdman, Robert K
• Strianese, Michael T

Titel

Real estate sale-leasebacks under FASB 98

Ist Teil von

• Journal of accountancy, 1989-06, Vol.167 (6), p.101

Ort / Verlag

New York: American Institute of CPA's

Erscheinungsjahr

1989

Quelle

EBSCOhost Business Source Ultimate

Beschreibungen/Notizen

• Under Financial Accounting Standards Board (FASB) Statement 98, fewer real estate transactions will qualify for sale-leaseback reporting. The new rules impose restrictive tests for recognizing sales, and they lengthen lease terms. This is expected to result in more capital leases. Statement 98 was issued to eliminate inconsistencies between reporting under Statement 13 and Statement 66. If a sale-leaseback transaction can be reported as a sale under Statement 98, it is reported as such regardless of whether the concurrent leaseback meets Statement 13's criteria for capital lease reporting or its operating lease requirements. The new statement applies to all real estate sale-leaseback transactions - even those involving the leaseback of only a portion of the real estate. It also applies to the sale of an interest in a real estate partnership that is accompanied by a concurrent leaseback of some or all of the underlying real estate.