Staff position issued on leveraged leases.FASB FASB See: Financial Accounting Standards Board FASB See Financial Accounting Standards Board (FASB). has issued a staff position that requires companies to recalculate re·cal·cu·late tr.v. re·cal·cu·lat·ed, re·cal·cu·lat·ing, re·cal·cu·lates To calculate again, especially in order to eliminate errors or to incorporate additional factors or data. their leveraged leases if there is a change in the timing of cash flows relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc income taxes generated by the leveraged lease. Leveraged leases can provide tax benefits to the lessor, and the accounting for such transactions can be significantly influenced by the timing of tax benefits provided to the lessor. Changes in the timing or the amount of these tax benefits may have a material effect on the transaction's cash flows. For more on the FSP FSP - File Service Protocol , effective for fiscal years beginning Dec. 15, 2006, visit www.fasb.org/news/nr071306_fsp.shtml. |
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