Home Technology Innovations, Inc.: Transitioning to the new leasing standard

David L. Gray and Abbie L. Daly

Journal of Accounting Education, 2019, vol. 49, issue C

Abstract: This case entails determining the expected financial statement impacts and related reporting requirements associated with the newly-promulgated leasing standard. The dataset includes financial statements, disclosures, and related supporting data for Home Technology Innovations, Inc. (a fictional, privately-held firm). You will determine financial statement effects of capitalizing existing operating lease obligations, evaluate the likelihood of exercising lease renewal options and calculate the impacts on lease capitalization calculations, research and prepare journal entries necessary to transition to the new leasing standards under both U.S. GAAP and IFRS, research and analyze the accounting for lease complexities, and apply broader business concepts in making recommendations. Instructors can select from combinations of case requirements so that the case can be used in financial accounting courses from the intermediate through the graduate level.

Keywords: New leasing standard; Lease case study; Economic consequences of accounting standards; Lease accounting research (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:eee:joaced:v:49:y:2019:i:c:s0748575118302033

DOI: 10.1016/j.jaccedu.2019.100636

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