Accounting practice in the post-Enron era: the implications for financial statements in the property industry

Operating and synthetic leases: Exploiti

Operating and synthetic leases: Exploiting financial benefits in the post-Enron era

✍ Joanne C. Duke; Su-Jane Hsieh; Yuli Su 📂 Article 📅 2009 🏛 Elsevier Science 🌐 English ⚖ 288 KB

Applying constructive lease capitalization to operating leases of firms in the 2003 S&P 500 index, we demonstrate that currently companies can hide billions of liabilities, enhance retained earnings, income, and ratios by reporting leases as operating. With the rekindled interests of the Internation