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SFAS 13 Definition Discrepancy
SFAS 13 Discrepancy (Leases)
(FV is Fair Value; RV is Residual Value; PV is present value, IIR is the Implicit Interest Rate) If we assume that the FV = the sales or purchase price as it says is typical in section 5c 1) Paragraph 5K basically says that PV of minimum lease payments + RV = FV 2) Paragraph 17C basically says that PV of minimum lease payments = sales price we get this: PV(MLP) @IIR = purchase price = PV(MLP+RV)@IIR What am I missing here? BTW- This is not homework. I was told to post my question here, nobody can seem to give me an answer... |
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In SFAS 13: (FV is Fair Value; RV is Residual Value; PV is present value, IIR is the Implicit Interest Rate) If we assume that the FV = the sales or purchase price as it says is typical in section 5c 1) Paragraph 5K basically says that PV of minimum lease payments + RV = FV 2)...
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