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1 page/β‰ˆ275 words
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Style:
APA
Subject:
Accounting, Finance, SPSS
Type:
Coursework
Language:
English (U.S.)
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Date:
Total cost:
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Topic:

Main Differences between Finance and Operating Leases and Apple's Financial Statement

Coursework Instructions:

The principles regarding leases were recently updated by FASB, as discussed in the textbook. Explain two main differences between finance and operating leases under these new lease provisions.
Select a publicly traded company and access its most recent financial statements, form 10-K. Include the name of the company in your subject line, and do not choose a company about which one of your classmates has already posted. Navigate to the notes to the financial statements and locate the company’s note on lease disclosures. Identify if the company has operating leases, financing leases, or both. Explain how you can tell which type of leases the company utilizes. Is the company properly reporting leases using the new standard? How can you tell? Participate in follow-up discussions by comparing the lease reporting of your company to that of a classmate's company and comment on any similarities or differences between the companies. Cite and Reference needed if you have any questions please feel free to contact me.
View "GCU Colangelo College of Business Form 10-K Tutorial," from YouTube (2021), for assistance with locating the Form 10-K for the list of approved companies. You can pick any company.
https://www(dot)youtube(dot)com/watch?

Coursework Sample Content Preview:

Main Differences between Finance and Operating Leases and Apple's Financial Statement
Student’s Name
Institutional Affiliation
Course
Instructor
Date
Analyzing Liabilities for Decision Making
A lease is a contract highlighting the terms under which two parties agree to rent an asset, often a property. The contract grants the user the rights to use the rented property and guarantees the property owner regular payments in exchange of the asset. A lease can be classified as either a direct financing lease or an operating lease. One of the differences between the two is that for a lease to be classified as a financing lease, its present value of the total payments and any residual value that the lessee guarantees, which is not reflected in the lease payments and any other third party unrelated to the lessor is equal to or surpasses significantly all of the fair value of the underlying asset (Financial Accounting Standards Board, 2021). The second difference is t...
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