FASB 13 definition

FASB 13 means the Statement of Financial Accounting Standards No. 13 (Accounting for Leases) as in effect on the date hereof.
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FASB 13 means the Statement of the Financial Accounting Standards Board No. 13, as amended and interpreted from time to time.
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FASB 13 means Financial Accounting Standards Board Statement No. 13.
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Examples of FASB 13 in a sentence

  • Code § 5123:2-7-24(D) and that non-related leases meet the requirements of FASB 13 and Ohio Admin.

  • For more detail on FASB 13, both the criteria and application thereof are also listed in OBM’s Fixed Asset Policies.

  • Leases that were formerly classified as operating leases for financial reporting under FASB 13 were excluded from tangible capital assets, and should continue to be excluded whether they are now classified as right-of-use assets under ASC 842, or are not so classified (i.e., lease period less than one year).

  • For the purpose of applying the three-factor formula, tangible capital assets include leases formerly classified as capital leases for financial reporting under FASB 13 and now classified as finance leases under accounting standard ASC 842.

  • Indicate whether the lease is a capital lease or operating lease, as determined by FASB 13.

  • We adopted Statement of Financial Accounting Standards (SFAS) No. 145, Rescission of FASB Statements No. 4, 44 and 64, Amendment of FASB 13, and Technical Corrections, at the beginning of fiscal year 2003.

  • FASB 13 defines an agreement as a capital lease if it meets any one of the following criteria: 1.

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  • The office of the state treasurer may pool financing requests in the name of the state of Washington to access municipal securities markets with lower, tax-exempt interest rates.The office of the state treasurer classifies financing transactions as operating leases (true leases) or financing contracts based upon the criteria established by the Govern- mental Accounting Standards Board (based upon FASB 13).

  • Periodic lease payments are purely rental payments and no in-substance ownership can be inferred using FASB 13 criteria (see “Capital Leases”).


More Definitions of FASB 13

FASB 13 means Financial Accounting Standards Board Statement No.
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FASB 13 means the Financial Accounting Standards Board (FASB) Statement of Financial Accounting Standards No. 13, Accounting for Leases, as amended, which outlines the required accounting procedures for accounting for leases by a lessor and is incorporated by reference. Other statements by the FASB, which are incorporated by reference, concerning leasing shall similarly be referred to by number such as "FASB 17" which defines initial direct costs of a lessor.
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FASB 13 means FASB's Statement of Financial Accounting Standards No. 13, "Accounting for Leases" (November 1976), as amended or interpreted by FASB's Statement of Financial Accounting Standards No. 17, "Accounting for Leases - Initial Direct Costs" (November 1977); FASB's Statement of Financial Accounting Standards No. 22, "Changes in the Provisions of Lease Agreements Resulting from Refundings of Tax-Exempt Debt" (June 1978); FASB's Statement of Financial Accounting Standards No. 23, "Inception of the Lease" (August 1978); FASB Interpretation No. 19, "Lessee Guarantee of the Residual Value of Leased Property" (October 1977); and FASB Interpretation No. 21, "Accounting for Leases in a Business Combination" (April 1978);
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Related to FASB 13

  • FASB means the Financial Accounting Standards Board.

  • FASB ASC means the Accounting Standards Codification of the Financial Accounting Standards Board.

  • Accounting Standard means GAAP.

  • Applicable Accounting Standards means Generally Accepted Accounting Principles in the United States, International Financial Reporting Standards or such other accounting principles or standards as may apply to the Company’s financial statements under United States federal securities laws from time to time.

  • ASC means the Financial Accounting Standards Board Accounting Standards Codification, as in effect from time to time.

  • GAAP means United States generally accepted accounting principles.

  • Consolidated Net Income means, with respect to any specified Person for any period, the aggregate of the Net Income of such Person and its Restricted Subsidiaries for such period, on a consolidated basis, determined in accordance with GAAP; provided that:

  • U.S. GAAP means United States generally accepted accounting principles.

  • Consolidated Income Tax Expense means, for any period, all provisions for taxes based on the gross or net income of Borrower (including, without limitation, any additions to such taxes, and any penalties and interest with respect thereto), and all franchise taxes of Borrower, as determined on a Consolidated basis and in accordance with GAAP.

  • Consolidated federal taxable income means the consolidated taxable income of an affiliated group of corporations, as computed for the purposes of filing a consolidated federal income tax return, before consideration of net operating losses or special deductions. "Consolidated federal taxable income" does not include income or loss of an incumbent local exchange carrier that is excluded from the affiliated group under division (A)(1) of this section.

  • IFRS means International Financial Reporting Standards.

  • Accounting Principles means the international financial reporting standards (IFRS) within the meaning of Regulation 1606/2002/EC (or as otherwise adopted or amended from time to time).