Are these still in the Financial section of the test? I remember in Summer of '09 one of my accounting professors said he just got a notice that said GAAP has changed and we account for Capital/Operating leases the same way...I'm using Becker 2009 so if anyone knows if this material has changed I'd appreciate a heads up as I'm taking the test next week. Thanks!
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acrua112
offlineMemberAccounting for leases has not changed yet. There are still separate accounting treatments for operating leases and capital leases. Becker 2009 has it correct. There is a project underway to change acocunting for leases, but it is nowhere close to being complete. Only general statements have been released regarding the new treatment. No new rules and/or guidelines have been released.
Posted 2 years ago #
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