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5. REPORTING ISSUES FOR ANOTHER TYPE OF INTEREST-BEARING DEBT- LEASE LIABILITIES Read Airlines Get a Break in New Accounting for Leases. Given a choice would
5. REPORTING ISSUES FOR ANOTHER TYPE OF INTEREST-BEARING DEBT- LEASE LIABILITIES Read "Airlines Get a Break in New Accounting for Leases." Given a choice would managers prefer to show more or loss debt on their balance sheet? Why? Briefly summarize the impact of the new lease standard on financial statements. Explain why airlines have been able to reduce the amount of lease liability they show on the balance sheet after adopting the new lease standard
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