6 edition of Sales and leases found in the catalog.
|Other titles||examples & explanations|
|Series||Examples & explanations series|
|LC Classifications||KF915.Z9 B74 1999|
|The Physical Object|
|Pagination||xviii, 552 p. :|
|Number of Pages||552|
|LC Control Number||98056171|
I really like the examples and explanations series and the Sales and Leases book is no exception. Those looking for quick reference will certainly be better served by a number of more concise books in outline form but if you want a workbook style book that really makes you grapple with the contents of the UCC and figure out how to apply the law then this is for you (doesn't sound like 5/5(5). ISBN: OCLC Number: Notes: Includes index. Description: xxiv, pages: illustrations ; 26 cm. Contents: Transactions governed by articles 2 and 2A, formation, and basic terms --The scope of article 2 --The subject is leases --Who is a "merchant" and why it matters --Offer and acceptance: the basics --Offer and acceptance advanced: the battle of the forms.
ISBN: OCLC Number: Notes: Includes index. Description: xxiv, pages: illustrations ; 26 cm. Contents: Transactions governed by articles 2 and 2A [Uniform Commercial Code], formation, and basic terms --The scope of article 2 --The subject is leases --Who is a "merchant" and why it matters --Offer and acceptance: the basics --Offer and acceptance. Lessons by Subject Outline - Sales and Leases This Subject Outline allows you to search for terms of art that correspond to topics you are studying to find related CALI Lessons. The Sales Index lists all CALI lessons covering Sales and Leases.
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incident to ownership. All other leases are classified as operating leases. Classification is made at the inception of the lease. [IAS ] Whether a lease is a finance lease or an operating lease . IAS 17 Leases deals with the accounting and financial reporting of the very common business transaction—lease. Leases are the great example of “off-balance sheet” financing if not recorded properly in the financial statements. In the past, many companies used to hide their finance lease liabilities and they reported all lease payments directly to profit or loss when paid.
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Relying on the standard examples-and-explanation pedagogy, Sales and Leases: Examples & Explanations. is an accessible, clearly written study guide for any student studying sales law, commercial law, commercial transactions law and contract law.
The Sixth Edition has been updated to address the recently aborted effort to revise Articles 2 and 2A. It also includes recent cases on the scope of Article /5(4). This book disappoints because it doesn't provide explanations.
This edition refers students in almost every paragraph to look up a portion of the UCC or refer to a statute or case. Instead of explaining Sales and Leases, this editions tells us on every page to look at a /5(13).
This edition refers students in almost every paragraph to look up a portion of the UCC or refer to a statute or case. Instead of explaining Sales and Leases, this editions tells us on every page to look at a provision of the UCC and discover the truth for ourselves/5(13). The third edition of a book on sales and leases of goods by one of the country’s leading experts in commercial law.
The book uses a problem-based approach to help students master the applicable legal rules, understand how the law applies to both simple and complex commercial transactions, and learn how to use the law in planning transactions and drafting agreements.
This is “Introduction to Sales and Leases”, chapter 17 from the book The Law, Sales, and Marketing (v. For details on it (including licensing), click here. This book is licensed under a Creative Commons by-nc-sa license.
on Sales. You should certainly start with Chapter I and move on from there. If this book has been assigned or recommended by your professor, you will of course follow his or her instructions as to which chapters to look to when and even as to which examples to do and which to leave for another day.
If you are working through the book on your. So, Willy entered into a Lease Agreement with Lone Mesquite Autoplex (“LMA”).
The terms of the Lease Agreement required Willy to pay LMA a cash deposit of $1, plus $ per month for 60 months (total lease payments = $15,).
At the end of the month lease term, Willy could purchase the truck for its then-”blue book” value, orFile Size: KB.
A capital lease, referred to as a finance lease under ASC and I is a lease that has the characteristics of an owned asset. In accounting, for a capital lease, the lessee records the leased asset as if he or she purchased the leased asset using funding provided by the lessor.
As a refresher, an operating lease functions much like a. Lengthy corporate career leads to indie book and record store in Virginia Beach Sales and leases | Rob Rostov purchafoot space in Chesapeake MASA Corporation renewed its lease.
Sales and Leases is a coursebook for a 3-credit course in personal property sales and leases – the subject matter of UCC Articles 2 and 2A. Adjustments could be made for other credit allocations and chapters can be used on a stand-alone basis.
Written with clarity and humor, Examples & Explanations: Sales and Leases, now in its Fifth Edition, offers students cogent introductions, concrete examples, and illuminating explanations for understanding UCC Articles 2 and 2A. Updated throughout, The Fifth Edition of Examples & Explanations: Sales and Leases features: author Jim Brook, popular author of three commercial law study guides in.
About the Book Sales and Leases is a coursebook for a 3-credit course in personal property sales and leases – the subject matter of UCC Articles 2 and 2A. Adjustments could be made for other credit allocations and chapters can be used on a stand-alone basis.
Under GAAP, lessees are required to book a right-of-use asset and related lease liability for all leases, operating or finance (under ASC ) that are not considered short-term leases.
For tax purposes, an operating lease will be treated as a true lease, with the lessor maintaining ownership of the asset and depreciation deductions, while the. Expert authors present a primer on the law of sales and leases under Articles 2 and 2A of the UCC.
This text also focuses on related subjects governed by Articles 5 and 7 of the UCC (letters of credit and documents of title).Author: Frederick H.
Miller. A sales-type lease exists when (a) the lease does not meet the criteria to be classified as operating and (b) the lessor realizes both interest income and a profit (or loss) on the transaction.
Therefore, the fair market value of the leased asset is more than the lessor’s cost to purchase the asset. A capital lease is a lease in which the lessee records the underlying asset as though it owns the asset.
This means that the lessor is treated as a party that happens to be financing an asset that the lessee owns. Note: The lease accounting noted in this article changed with the release of Accounting Standards Updatewhich is now in effect.
Consequently, the following. A Refresher on Accounting for Leases ($,) of the storage facility on the day the lease was signed is also its carrying value on CTF’s books.
At the end of the lease period, CTF estimates that the facility would be worth $, They will recognize either a direct financing or sales lease if the lease is effectively an. Outside of these states, a taxpayer may be subject to an examination in which the taxing authority could assert the lease transaction constitutes a purchase transaction subject to immediate sales and use taxation.
Given the annual book expense may exceed the annual cash payments made in the earlier years of a finance lease, a taxpayer could also experience tax increases in those earlier. A lease is an arrangement in which one party, called the lessor, provides an asset for use of the other party, called the lessee, against periodic payments for a specified time period.
Accounting for leases depends on the terms and conditions of the lease i.e. whether it is a finance lease or an operating lease. Scott J. Burnham & Kristen Juras, SALES AND LEASES: A Problem-based Approach, Published by CALI eLangdell Press. Available under a Creative Commons BY-NC-SA License.
CALI® and eLangdell® are United States federally registered trademarks owned by the Center for Computer-Assisted Legal Instruction. Lessor Accounting for Capital Leases. There are two types of lessor capital leases: Sales-Type Lease: The lessor firm is typically a dealer or manufacturer who leases its equipment rather than selling the equipment outright.
Under a sales-type lease, the lessor will recognize a profit or loss on the sale of the leased product and recognize on-going interest income from the capitalized lease.Sales and Leases: A Problem-Solving Approach by Stephen L. Sepinuck; Linda J. Rusch and a great selection of related books, art and collectibles available now at Lease accounting is an important accounting section as it differs depending on the end user.
A lessee and a lessor report and account the leases differently. A lessor is the owner of the asset and a lessee uses the leased asset by paying periodically to the lessor. The accounting and reporting of the lease in different ways has varying effects on financial statements and ratios.