Summarize the accounting for leases using the new standard

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Reference no: EM133372133

Questions:

1. Summarize the accounting for Leases using the NEW STANDARD (Lessee's perspective-Operating and Finance lease) and provide the pro-forma journal entries.

2. Summarize the accounting for Leases using the NEW STANDARD (Lessor's perspective) and provide the pro-forma journal entries.

3. Provide advantages of the new standards on Leases. Focus on the impact on management reporting and analysis. Not more than 10 sentences.

4. Provide the summary of the CREATE law that shall end this 2023. Enumerate its advantages and disadvantages.

Reference no: EM133372133

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