Accounting is the language of business, and it is not a dead
language! The FASB is responsible for ensuring that all relevant and material
financial information is properly codified in Generally Accepted Accounting
Principles (GAAP).

The use of off balance sheet leases to distort the real
liabilities of companies is a topic of long-lived concern. ASU 2016-02, Leases,
is the most recent action of FASB to address this issue.

For this assignment you will select a company of your choice
or use one (1) of the companies you researched in your weekly discussions to
write a six to eight (6-8) page report in which you:

Summarize the impact of ASU 2016-02, Leases on the recording
of leases.

Discuss at least three (3) elements featured in the current
information reported by your chosen company for its leases.

Analyze the impact of the new standard on the reporting of
your chosen company’s leases.

Compare and contrast the impact that ASU 2016-02, Leases
will have on the financial ratios of your chosen company.

Determine the impact of the changes to accounting for leases
on the recommendations of stock analysts for your chosen company.

Use at least four (4) quality academic resources in this
assignment. Note: Wikipedia and other websites do not qualify as academic
resources.

Your assignment must follow these formatting requirements:

Be typed, double spaced, using Times New Roman font (size
12), with one-inch margins on all sides; citations and references must follow
APA or school-specific format. Check with your professor for any additional
instructions.

Include a cover page containing the title of the assignment,
the student’s name, the professor’s name, the course title, and the date. The
cover page and the reference page are not included in the required assignment
page length.

The specific course learning outcomes associated with this
assignment are:

Examine accounting principles and concepts used in
businesses.

Prepare and record financial transactions in the accounting
cycle according to Generally Accepted Accounting Principles (GAAP) and
International Financial Reporting Standards (IFRS) accounting methodology.

Prepare and analyze financial statements including the
balance sheet, income statement, and statement of cash flow according to GAAP and
IFRS.

Examine inventory costing and valuation according to GAAP
and IFRS.

Analyze how GAAP is applied to asset valuation and
liabilities.

Determine how to value investments and how to report them
based on that valuation.

Analyze the accounting for corporation requirements related
to stock valuation, dividends, and retained earnings.

Calculate financial ratios, interpret results, and draw conclusions.

Use technology and information resources to research issues
in financial accounting.

Write clearly and concisely about financial accounting using
proper writing mechanics.