Accounting for Leases

Status

Issued:
November 1976

Effective Date:
For leasing transactions and revisions entered into on or after January 1, 1977

Affects:
Supersedes APB 5
Supersedes APB 7
Deletes APB 18, paragraph 15 and footnote 5
Supersedes APB 27
Supersedes APB 31

Affected by:
Paragraph 3 deleted by FAS 71, paragraph 26(q)
Paragraph 5 amended by FAS 29, paragraph 11, and FAS 98, paragraph 22(b)
Paragraph 5(b) replaced by FAS 23, paragraph 6
Paragraph 5(c) amended by FAS 157, paragraph E4, and FSP FAS 157-1, paragraph 10
Paragraphs 5(f), 6(b)(iv), 8(a), 26(a)(ii), and 26(b)(i)(b) replaced by FAS 98, paragraphs 22(a), 22(d), 22(f), 22(l), and 22(m), respectively
Paragraphs 5(j)(i), 16(a)(iv), and 17(b) amended by FAS 29, paragraphs 10, 12, and 13, respectively
Paragraph 5(m) replaced by FAS 17, paragraph 8, and FAS 91, paragraph 24
Paragraph 6(b)(i) amended by FAS 27, paragraph 6, and FAS 98, paragraph 22(c)
Paragraphs 6(b)(ii) and 17(f)(ii) amended by FAS 27, paragraphs 7 and 8, respectively
Paragraphs 7(a), 19, 25, and 26(b)(ii)(b) amended by FAS 98, paragraphs 22(e), 22(j), 22(k), and 22(n), respectively
Paragraph 8 amended by FAS 26, paragraph 7, and FAS 98, paragraph 22(f)
Paragraphs 8(b), 10, 26(a)(i), and 43(c) amended by FAS 23, paragraphs 7, 8, and 10, respectively
Paragraph 12 amended by FAS 29, paragraph 13
Paragraphs 14 and 17(f) amended by FAS 22, paragraphs 14 and 15, respectively
Paragraph 14(a) amended by FAS 145, paragraph 8
Paragraph 17(a) amended by FAS 23, paragraph 9, and FAS 98, paragraph 22(g) Paragraph 18(a) amended by FAS 23, paragraph 9, and FAS 91, paragraph 25(a)
Paragraph 18(a) replaced by FAS 98, paragraph 22(h)
Paragraph 18(b) amended by FAS 29, paragraph 13, and FAS 91, paragraph 25(b)
Paragraph 18(b) replaced by FAS 98, paragraph 22(i)
Paragraph 20 amended by FAS 77, paragraph 10, and FAS 125, paragraph 235
Paragraph 20 replaced by FAS 135, paragraph 4(h), and FAS 140, paragraph 352
Paragraph 23(a)(i) replaced by FAS 91, paragraph 25(d)
Paragraph 23(a)(iii) deleted by FAS 91, paragraph 25(e)
Paragraphs 32 and 33 replaced by FAS 28, paragraphs 2 and 3, respectively
Paragraph 38 replaced by FAS 145, paragraph 9(c)
Paragraph 46 amended by FSP FAS13-2, paragraph A1(a)
Paragraphs 46A through 46C added by FSP FAS13-2, paragraph A1(b)
Paragraph 47 amended by FAS 96, paragraph 205(l), and FAS 109, paragraph 288(m)
Footnote 13 deleted by FAS 29, paragraph 12
Footnote added by FAS 28, paragraph 3, to paragraph 33 amended by FAS 66, paragraph 51

Other Interpretive Pronouncements:
FIN 19
FIN 21
FIN 23
FIN 24
FIN 26
FIN 27
FTB 79-10
FTB 79-11 (Superseded by FAS 98)
FTB 79-12
FTB 79-13
FTB 79-14
FTB 79-15
FTB 79-16 (Superseded by FTB 79-16(R))
FTB 79-16(R)
FTB 79-17
FTB 85-3
FTB 86-2
FTB 88-1

Other Interpretive Releases:
FASB Staff Positions FAS 13-1 and FAS 13-2

Issues Discussed by FASB Emerging Issues Task Force (EITF)

Affects:
No EITF Issues

Interpreted by:
Paragraph 1 interpreted by EITF Issues No. 95-1 and 01-8
Paragraph 5(j) interpreted by EITF Issue No. 95-1 and Topic No. D-107
Paragraphs 5(j)(i) and 5(n) interpreted by EITF Issue No. 86-33
Paragraph 7 interpreted by EITF Issues No. 97-1 and 00-11
Paragraph 7(d) interpreted by EITF Issue No. 96-21 and Topic No. D-107
Paragraphs 9, 17, and 18 interpreted by EITF Topic No. D-107
Paragraph 15 interpreted by EITF Issue No. 98-9
Paragraphs 21 and 22 interpreted by EITF Issue No. 95-4
Paragraph 26(b)(ii) interpreted by EITF Issue No. 92-1
Paragraph 34 interpreted by EITF Issue No. 88-21
Paragraph 42(c) interpreted by EITF Issue No. 85-16
Paragraph 46 interpreted by EITF Issue No. 86-43
Paragraph 64 interpreted by EITF Issue No. 01-8

Related Issues:
EITF Issues No. 84-37, 85-27, 86-17, 86-44, 87-7, 87-8, 89-16, 89-20, 93-8, 95-6, 95-17, 97-10, 99-13, 99-14, 00-13, 01-4, 01-8, 01-10, 01-12, 03-12, 05-3, 05-6, 08-2, and 08-3 and Topic No. D-8


Abbreviations for Accounting Pronouncements
FAS - FASB Statements
FIN - FASB Interpretations
FTB - FASB Technical Bulletins
APB - APB Opinions
AIN - AICPA Interpretations
ARB - Accounting Research Bulletins
CON - FASB Concepts
EITF - EITF Issues
Q&A - FASB Implementation Guides