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Book The Effects of Lease Capitalization on Various Financial Measures

Download or read book The Effects of Lease Capitalization on Various Financial Measures written by Charles W. Mulford and published by . This book was released on 2015 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: The FASB, in conjunction with the International Accounting Standards Board, is currently in the planning stages of a project that would revise SFAS 13, Accounting for Leases. What is proposed is that leases that are presently accounted for as operating leases, that is, those leases that do not meet the current requirements for on-balance-sheet treatment, would be accounted for as capital leases and brought onto the financial statements. For companies that use a significant amount of operating leases to finance operations, the financial statement impact could be far-reaching, including material effects on various measures of profitability, financial leverage, debt coverage and cash flow.In this article, we look at the retail industry, an industry that uses operating leases extensively, to evaluate how certain key measures of financial performance and position might be affected by the capitalization of operating leases. Among the findings are an increase in EBITDA, though reductions in income from continuing operations and earnings per share. Financial leverage is increased and debt coverage measures are reduced. Measures of profitability, such as return on assets and return on equity are reduced. Finally, we find an increase in operating cash flow and free cash flow.

Book Impact of Lease Capitalization on Financial Ratios of Listed German Companies

Download or read book Impact of Lease Capitalization on Financial Ratios of Listed German Companies written by Rolf Uwe Fuelbier and published by . This book was released on 2008 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: The separation of leases into operating and finance leases for accounting purposes can result in incentives to favor operating lease contracts, since they avoid on-balance-sheet debt. The IASB and FASB are conducting a long-term joint project on leasing, following the G4 1 group's research on possible improvements to lease accounting. One alternative is to treat all leases in a manner similar to today's finance leasing. Our simulation results for Germany show notable changes in a variety of financial ratios, especially for assets and liability relations, which may trigger management with incentives to dampen these effects. Of note for standard setters, the effects of operating lease capitalization should not be overstated. Only minor effects can be observed for profitability ratios and market multiples often used for valuation purposes. Moreover, most industries remain almost unaffected and the relative ratio-based ranking of all sample companies does not change much. Additionally, we observe that the common Creditstats model yields somewhat comparable results.

Book An Empirical Investigation of Methods of Computing the Current Portion of Capitalized Lease Obligations and the Effects on Selected Financial Measures

Download or read book An Empirical Investigation of Methods of Computing the Current Portion of Capitalized Lease Obligations and the Effects on Selected Financial Measures written by Paul H. Schwinghammer and published by . This book was released on 1986 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book The Effect of Capitalizing Operating Leases on US Based Retail Companies

Download or read book The Effect of Capitalizing Operating Leases on US Based Retail Companies written by Cédric Planner and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: After ten years of developing a new accounting standard for leases, the FASB issued ASC 842 on February 25th, 2016 to improve transparency and comparability of financial statements across companies. The following paper investigates the effect of capitalizing operating leases onto the balance sheet of US-based retail companies. As a basis, the author will present and elaborate on the theoretical fundamentals of the newly established standard ASC 842 through various sources of literature in order to afterwards establish a comprehensive research design. As a result of the research design, an empirical analysis will be conducted using various financial information from Form 10-K documents of each company within the sample to examine the effect of capitalizing operating leases on key financial metrics. According to the results, the paper justifies that capitalizing operating leases onto the balance sheet of US-based retail companies has the potential to create more transparency and comparability, but it will take some time. Furthermore, the results show that the capitalization of operating leases onto the balance sheet has a significant impact on key financial metrics. This impact will manifest itself in the form of individual companies needing to re-negotiate their debt or remuneration contracts.

Book Regional Studies on Economic Growth Financial Economics and Management

Download or read book Regional Studies on Economic Growth Financial Economics and Management written by Mehmet Huseyin Bilgin and published by Springer. This book was released on 2017-04-13 with total page 450 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents selected papers from the 19th Eurasia Business and Economics Society (EBES) Conference held in Istanbul. Its primary emphasis is on showcasing the latest empirical research on social change, sustainable development and the management of public and private organizations in emerging economies. The respective articles also address more specialized and related topics such as financial risk tolerance, international strategic partnerships, female labor force participation, human capital dynamics, and economic integration, among others.

Book Accounting Theory

Download or read book Accounting Theory written by Harry I. Wolk and published by SAGE. This book was released on 2008 with total page 697 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents complex materials in a clear and understandable manner. Incorporating the latest accounting standards and presenting the most up-to-date accounting theory from the top academic journals in accounting and finance throughout the world.

Book Financial Sustainability of Public Sector Entities

Download or read book Financial Sustainability of Public Sector Entities written by Josette Caruana and published by Springer. This book was released on 2019-03-01 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyses the role of public sector accounting, and the relevance of accounting frameworks, in assisting financially sustainable policy making. Focussing on the European context, the book examines financial reporting, management accounting, budgeting and other reporting requirements, for example, Government Finance Statistics. It also analyses emerging forms of reporting, such as popular reporting and integrated reporting, which may also be considered by policy makers, standard setters, and managers of public sector entities.

Book The Elgar Companion to Transaction Cost Economics

Download or read book The Elgar Companion to Transaction Cost Economics written by Peter G. Klein and published by Edward Elgar Pub. This book was released on 2010 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Not too long ago it was possible to be familiar with all of the important works and latest developments in transaction cost economics. That that is no longer the case is a testament to the intellectual appeal and empirical success of the transaction cost approach. for newcomers, the entries in this volume, by some of TCE's most knowledgeable and eloquent contributors, offer an excellent introduction to the issues, methods, discoveries, and debates in the field; for veterans, the volume provides a highly valuable resource for catching up on the newest research.' - Scott E. Masten, University of Michigan School of Business, US

Book A Tea Reader

    A Tea Reader

    Book Details:
  • Author : Katrina Avila Munichiello
  • Publisher : Tuttle Publishing
  • Release : 2017-03-21
  • ISBN : 9780804848992
  • Pages : 256 pages

Download or read book A Tea Reader written by Katrina Avila Munichiello and published by Tuttle Publishing. This book was released on 2017-03-21 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Tea Reader contains a selection of stories that cover the spectrum of life. This anthology shares the ways that tea has changed lives through personal, intimate stories. Read of deep family moments, conquered heartbreak, and peace found in the face of loss. A Tea Reader includes stories from all types of tea people: people brought up in the tea tradition, those newly discovering it, classic writings from long-ago tea lovers and those making tea a career. Together these tales create a new image of a tea drinker. They show that tea is not simply something you drink, but it also provides quiet moments for making important decisions, a catalyst for conversation, and the energy we sometimes need to operate in our lives. The stories found in A Tea Reader cover the spectrum of life, such as the development of new friendships, beginning new careers, taking dream journeys, and essentially sharing the deep moments of life with friends and families. Whether you are a tea lover or not, here you will discover stories that speak to you and inspire you. Sit down, grab a cup, and read on.

Book IFRS 16 and Corporate Financial Performance in Italy

Download or read book IFRS 16 and Corporate Financial Performance in Italy written by Elisa Raoli and published by Springer Nature. This book was released on 2021-04-27 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents an empirical analysis on how the new lease accounting model of IFRS 16 affects financial statements and performance of Italian companies. It discusses the theoretical framework of the off-balance sheet financing with a particular focus on the off-balance sheet lease contracts. Previous research provided controversial results about the potential impacts on the companies’ financial statement and performance deriving from leases capitalization. The application of different methodological approaches based on estimation of the expected effects resulted in inconclusive results. This book aims to measure the real impacts deriving from the post-implementation of the new lease accounting standard (IFRS 16) on companies’ financial statements, economic and financial performance, on market reactions and on financial statement’ users.

Book The Effect of the IFRS 16

Download or read book The Effect of the IFRS 16 written by Emre Sari and published by . This book was released on 2016 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: The new International Financial Reporting Standard (IFRS) 16 issued by the International Accounting Standards Board will significantly change accounting for leases. The most important issue is that operating leases beyond one year will be capitalized, which means Off-The-Balance Sheet (OBS) financing via operating lease is effectively eliminated. “IFRS 16: Leases” will fundamentally change the way that leases are accounted for and reported in financial statements. This paper tries to illustrate the impact of IFRS 16 on financial statements and financial ratios. The study is an ex ante research, simulating a predicted outcome of the new lease standard, which will be in effect after 1 January 2019. For this purpose, this research is applied to the Turkish retailing companies whose shares are publicly traded in the Istanbul Stock Exchange. The study uses the constructive capitalization method for these companies. The results indicate that new standard will have a statistically significant effect on some of the financial ratios tested (debt/asset, debt/equity, return on assets (ROA) and return on equity (ROE)) for 2010-2013.

Book The Intelligent REIT Investor

Download or read book The Intelligent REIT Investor written by Stephanie Krewson-Kelly and published by John Wiley & Sons. This book was released on 2016-08-16 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The go-to guide for smart REIT investing The Intelligent REIT Investor is the definitive guide to real estate investment trusts, providing a clear, concise resource for individual investors, financial planners, and analysts—anyone who prioritizes dividend income and risk management as major components to wealth-building. The REIT industry experienced a watershed event when Standard & Poors created a new Global Industry Classification Standard (GICS) sector called Real Estate. Publicly traded equity REITs have been removed from Financials, where they have been classified since their creation in 1960, and have begun trading as their own S&P Sector. This separation from banks and financial institutions has attracted new investors, but REITs require an industry-specific knowledge that is neither intuitive nor readily accessible to newcomers—until now. Using straightforward language and simple example to illustrate important concepts, this book will enable any reader to quickly learn and understand the lexicon and valuation techniques used in REIT investing, providing a wealth of practical resources that streamline the learning process. The discussion explains terminology, metrics, and other key points, while examples illustrate the calculations used to evaluate opportunities. A comprehensive list of publicly-traded REITs provides key reference, giving you access to an important resource most investors and stockbrokers lack. REITs are companies that own or finance commercial rental properties, such as malls and apartment buildings. Despite historically high total returns relative to other investments, such as the Nasdaq or S&P 500 index, most investors are unfamiliar with the REIT industry, and wary of investing without adequate background. This book gets you up to speed on the essentials of REIT investing so you can make more informed—and profitable—decisions. Understand REITs processes, mechanisms, and industry Calculate key metrics to identify suitable companies Access historical performance tables and industry-specific terminology Identify publicly-traded REITs quickly and easily REITs have consistently outperformed many more widely known investments. Over the past 15-year period, for example, REITs returned an average of 11% per year, better than all other asset classes. Since 2009, REITs have enjoyed positive returns; large cap stocks and cash are the only other classes that paralleled that record. Even in 2015, a 'year of fear' related to rising rates, REITs returned 2.4%, beating most all other asset classes. REITs have a long history (over fifty years) of performance, and have entered the big leagues. If you feel like you've been missing out, don't keep missing out. Prepare yourself, and your portfolio, to benefit from the demand for REITs that have followed the creation of a Real Estate GICS sector. The Intelligent REIT Investor gives you the information you need to invest wisely and manage your real estate risk effectively. By maintaining a tactical exposure in the brick and mortar asset class, investors should benefit from the information contained in The Intelligent REIT Investor. Join the REIT world and look forward to owning stocks that will help you to sleep well at night.