International Accounting Standards IAS 17: Leases (Revised 1997)
Article Abstract:
The International Accounting Standards (IAS) Committee approved IAS 17 (Revised), entitled 'Leases,' as a replacement to the original IAS 17, 'Accounting for Leases.' To take effect for accounting periods starting on or after Jan 1, 1999, the standard aims to provide lessees and lessors the accounting policies and disclosures needed in finance and operating leases. The revised version offers nine major changes from the first standard. It updates the definition of a lease by replacing the term 'rent' with 'a payment or series of payments.' Moreover, the revised standard uses the phrase 'economic life' instead of 'useful life.' It also adds more classification indicators to improve the classification process.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1998
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Group's rentals and leases confuse investors
Article Abstract:
The share price of Automated Security Holdings (ASH), Europe's top electronic security systems maker, has dropped sharply from 270 pence to 122 pence. The share price drop has been triggered by investor concerns over ASH's accounting policies. Particularly worrying is ASH's treatment of its operating leases for intruder alarm systems, its finance leases for telesurveillance and tagging equipment, and the computation of its tax charge. Many investors are worried about the company's accounting policies since most of ASH's customers prefer to lease its security systems.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1992
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Leases - the end of the world?
Article Abstract:
The UK Accounting Standards Board believes that non-cancellable operating leases should be brought on balance sheet. This is a good basic idea, but the 'financial components' approach means that only committed payments would be on balance sheet.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2000
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