Intermediate Accounting II - Leases Illustrated - L2 - Professor Sannella

Intermediate Accounting II
Leases Illustrated
Lecture #2
Professor Sannella

Time Stamps:

0:00 - 21:42 Capital vs. Operating Leases & Financial Statement Effects

21:43 - 44:56 Lease Review Questions

44:57 - 53:53 Introduction to Lessor Accounting

53:54 - 58:47 Lessor Criteria for Capitalization

58:48 - 1:10:11 Accounting Treatment for Initial Indirect Costs by Lessor

1:10:12 - 1:27:19 US GAAP: Illustration with Rules-Bases Lease Accounting Standards

1:27:20 - 1:35:22 Examples: Applying Lease Capitalization Theory and Criteria

1:35:23 - 1:37:26 Additional Considerations with Leases

1:37:27 - 1:56:48 Illustration of Direct Finance Leases (No Residual Value)

The Professor begins this lecture with a basic review of leases and discusses the primary differences between capital and operating leases. In addition, financial statement effects are explained. Next, the Professor illustrates accounting for the lessor. The types of capital lessees for the lessor as well as lessor capitalization criteria are discussed. Additionally, differences between lease accounting for US GAAP and IFRS are explained. The lecture ends with illustrations including both the lessor and lessee without residual values.

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