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What is Portfolio Management? - The continuous process of evaluating the nature and performance of the portfolio of leases in order to allow management to determine future underwriting adjustments, current reserves and strategic planning What are the different categories of risk factors? - 1.) cr...

Currently how big is the leasing industry? - American companies acquire $1 billion in equipment each year of which 55% is leased. What % of companies lease? - 8 of 10 How old is leasing? - 4000 years ago the Sumerians produced leases on clay tablets for ag tools, water rights and animals. The Co...

What applicant attributes are you trying to learn about when underwriting a deal? - 1.) The desire to repay the debt 2.) the financial ability to make payments 3.) The reserves to withstand unexpected setbacks What are the four (4) C's of Credit? - 1.) Character: the desire to pay back debt 2....

What is a primary goal of the accounting profession? - Consistent treatment of like transactions to allow clarity in presentation and consistency in interpretation of financial statements prepared by various individuals or entities. How did APB (Accounting Principals Board) fail? - Created Opinio...

ASC 842 is what type of standard? - Accounting; relates to Financial Statements What does ASC 842 do for financial reporting? - requires operating leases to be reported on the balance sheet WHIlE maintaining the distinction between finance leases ("capital leases") and operating leases. What w...

Helps avoid tax abuse by defining what is not a lease for tax purposes. - What is significant about IRS Revenue Ruling 55-540? Per IRS Revenue Ruling 55-540, what are the rules that if present prevent a transaction from being a lease for tax purposes? - 1). Any portion of the periodic payment is ...

What is a Lease a document? - A lease is a basic document by which a lessor agrees to provide equipment or other personal property or rights to a lessees in return for rental payments. What are Lease Exhibits document? - Also referred to a "schedules" are used if the description of lease proper...

What is a primary goal of the accounting profession? - Consistent treatment of like transactions to allow clarity in presentation and consistency in interpretation of financial statements prepared by various individuals or entities. How did APB (Accounting Principals Board) fail? - Created Opinio...