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Due
Week 8 and worth 250 points
Accounting
is the language of business, and it is not a dead language! The FASB is
responsible for ensuring that all relevant and material financial information
is properly codified in Generally Accepted Accounting Principles (GAAP).
The use
of off balance sheet leases to distort the real liabilities of companies is a
topic of long-lived concern. ASU 2016-02, Leases, is the most recent action of
FASB to address this issue.
For
this assignment you will select a company of your choice or use one (1) of the
companies you researched in your weekly discussions to write a six to eight
(6-8) page report in which you:
- Summarize the impact of ASU 2016-02, Leases on the recording of leases.
- Discuss at least three (3) elements featured in the current information reported by your chosen company for its leases.
- Analyze the impact of the new standard on the reporting of your chosen company’s leases.
- Compare and contrast the impact that ASU 2016-02, Leases will have on the financial ratios of your chosen company.
- Determine the impact of the changes to accounting for leases on the recommendations of stock analysts for your chosen company.
- Use at least four (4) quality academic resources in this assignment. Note: Wikipedia and other websites do not qualify as academic resources.
Your
assignment must follow these formatting requirements:
- Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
- Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The
specific course learning outcomes associated with this assignment are:
- Examine accounting principles and concepts used in businesses.
- Prepare and record financial transactions in the accounting cycle according to Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) accounting methodology.
- Prepare and analyze financial statements including the balance sheet, income statement, and statement of cash flow according to GAAP and IFRS.
- Examine inventory costing and valuation according to GAAP and IFRS.
- Analyze how GAAP is applied to asset valuation and liabilities.
- Determine how to value investments and how to report them based on that valuation.
- Analyze the accounting for corporation requirements related to stock valuation, dividends, and retained earnings.
- Calculate financial ratios, interpret results, and draw conclusions.
- Use technology and information resources to research issues in financial accounting.
- Write clearly and concisely about financial accounting using proper writing mechanics.
Snippet from the tutorial:
Impact of ASU 2016-02, Leases on Financial Ratios of xxxxxx Inc Generally, the new standard will impact key items of the financial statement; hence impacting the financial ratios of the company. As mentioned above, the new standard requires the lessees to convert their operating leases to capital leases that off-balance sheet to on-balance sheet reflecting lease’s liability. The incremental impact of lease liabilities to the balance sheet is expected to have a substantial impact on the financial ratios that are relied upon by the users of the financial statements (Alexander & Archer, 2017).
Please click on the below link to purchase the above tutorial.
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