In a sale-leaseback transaction, the owner of an asset sells it and immediately leases it back from the new owner.The FASB Accounting Standards Codification represents the single source of authoritative U.S. generally acceptedaccounting principles.Required:1. Obtain the relevant authoritative literature on disclosure requirements pertaining to a seller-lessee in a saleleasebacktransaction. Use your institution’s Academic Accounting Access to the FASB Accounting StandardsCodification ( www.fasb.org ) or through your school library’s subscription to a research database thatincludes the Codification. What is the specific citation that describes the guidelines for determining the disclosurerequirements in the notes to the financial statements?2. List the disclosure requirements.
In a sale-leaseback transaction, the owner of an asset sells it and immediately leases it back from the new owner.
The FASB Accounting Standards Codification represents the single source of authoritative U.S. generally accepted
accounting principles.
Required:
1. Obtain the relevant authoritative literature on disclosure requirements pertaining to a seller-lessee in a saleleaseback
transaction. Use your institution’s Academic Accounting Access to the FASB Accounting Standards
Codification ( www.fasb.org ) or through your school library’s subscription to a research database that
includes the Codification. What is the specific citation that describes the guidelines for determining the disclosure
requirements in the notes to the financial statements?
2. List the disclosure requirements.
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