Capital Leases on FAR

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  • May 13, 2014 at 10:40 pm #185540
    Newengland01
    Participant

    I heard or thought I heard that all the leases on the CPA Exam will be capital leases starting in 2013 is that true? Operating Leases are no longer tested?

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  • May 13, 2014 at 11:02 pm #552714
    Frutch32
    Member

    I would think they will continue to both be tested until the FASB/IASB convergence project is completed.

    I am not sure if the convergence project is completely eliminating operating, I think they would be type B leases (after-all some lease agreements truly are operating in nature).

    FAR (1/15/14)- 92
    AUD (5/05/14)- 94
    BEC (5/28/14)- 85

    May 13, 2014 at 11:02 pm #552717
    Frutch32
    Member

    I would think they will continue to both be tested until the FASB/IASB convergence project is completed.

    I am not sure if the convergence project is completely eliminating operating, I think they would be type B leases (after-all some lease agreements truly are operating in nature).

    FAR (1/15/14)- 92
    AUD (5/05/14)- 94
    BEC (5/28/14)- 85

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