SFAS 13 definition
Examples of SFAS 13 in a sentence
FSP No. 157-1, issued on February 14, 2008, excluded SFAS No. 13, “Accounting for Leases” (“SFAS 13”), and other accounting pronouncements that address fair value measurements for purposes of lease classification or measurement under SFAS 13.
Accordingly, the Company has capitalized the leased equipment in accordance with SFAS 13, "Accounting for Leases." In May and June 2000, the Company leased two stereolithography machines from 3D Capital Corporation ("3D") under a Master Lease Agreement entered into in March 2000 for a total value of $1,479,000 at a borrowing rate of 6.533% per annum for a period of 60 months.
The Company has capitalized these machines in accordance with SFAS 13.
The FSC will concern capital leases or other sales-type leases or direct financing leases as defined in SFAS 13 paragraphs 7-8 (as amended from time to time) and IAS 17 paragraphs 5-11, as further defined in Annex 1.The FSC may provide for service and maintenance of the Equipment and Non Equipment (“all-in contract”).
The present value of the aggregate Periodic Lease Rent payable during the Fixed Lease Term under the Facility Lease (taking into account any rent adjustment through or contemplated on the Closing Date), together with all rent payable under the Site Lease and Sublease and all Transaction Costs financed through the Facility Lease, discounted at the Discount Rate, shall satisfy the 90 percent test for off-balance sheet treatment under SFAS 13.
Landlord will continue to maintain an equity investment in the Lease sufficient to meet the SFAS 13 accounting criteria for operating lease treatment and will comply with the Emerging Issue Task Force's issues 90-15 and 96-21 with regard to the Lease.
The present value of scheduled Periodic Lease Rent payable under each Lease payable during the Fixed Lease Term (taking into account any rent adjustment through or contemplated on the Closing Date) together with all rent payable under the related Facility Site Sublease, discounted at the Discount Rate, shall satisfy the 90% test for operating lease treatment under SFAS 13 and SEMA shall have been advised by its auditor that the Facility Lease qualifies for such operating lease treatment.
Except as identified in the financial statements provided to the Bank, the Borrower has no material outstanding indebtedness for money borrowed or any obligations incurred as a lessee of goods or services under leases that, in accordance with SFAS 13 or GAAP, should be reflected on Borrower's balance sheet.
As to the Facility Lessee, the present value of the aggregate Periodic Lease Rent payable during the Fixed Lease Term (taking into account any rent adjustment through or contemplated on the Closing Date), together with all rent payable under the Site Lease and Sublease and all Transaction Costs not financed through the Facility Lease discounted at the Discount Rate, shall satisfy the 90 percent test for operating lease treatment under SFAS 13.
SFAS 145 will be adopted beginning January 1, 2003, except for the provisions relating to the amrndment of SFAS 13, which will be adopted for transactions occurring subsequent to May 15, 2002.