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Ch 5: Accounting for Operating & Capital Leases

About This Chapter

Use this chapter as a study aid or reference tool to refresh your memory or learn new facts about the accounting responsibilities regarding operating and capital leases. Prepare for class discussions or exams or even college tests used for placement or admissions purposes.

Accounting for Operating & Capital Leases - Chapter Summary

What are operating and capital leases? How do they impact financial statements? These brief text lessons highlight the important facts regarding these topics. You will have the opportunity to review definitions and examples that help to clarify and encourage retention of this material. Lessons are accessible 24/7 from any device and transcripts can also be printed for easy reference. Self-assessment quizzes help you determine how much you have learned and whether you need to continue reviewing any topic. Once you have finished reviewing this chapter, you should be able to do the following:

  • Share the definition and an example of an operating lease
  • Describe the requirements of a capital lease in accounting
  • State the impact of operating and capital leases on financial statements
  • List and discuss three methods of capital asset disposal

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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