Since the textbook has been published, FASB has issued new accounting standard guidance for operating leases. Read the two required reading articles in this module about leases listed below:

Shannon, C. (2016). How will the new lease accounting standard impact loan covenants? (Links to an external site.) Equipment Leasing & Financing, Washington D.C., 32(4), 40-41.

Sliwoski, L. (2017). Understanding the new lease accounting guidance (Links to an external site.). Journal of Corporate Accounting and Finance, 28(40), 48-52.

Post about the changes in the treatment in operating lease accounting and how these new standards will impact debt covenants. What is the impact to off-balance sheet reporting? Be sure to include your opinion on how this new standard impacts the reliability and transparency of financial statements.

Chapter 3 in Financial Statement Analysis

Drum, J., Stangle, B., & Starfield, R. (2018). Keeping covenants: Getting debt ratios right. Journal of Accountancy, 225(6), 34-38.

Mehra, R. (2018). Business loan vs. equity financing: Which is more suitable for your business? The Economic Times, New Delhi.

Shannon, C. (2016). How will the new lease accounting standard impact loan covenants? Equipment Leasing & Financing, Washington D.C., 32(4), 40-41.

Sliwoski, L. (2017). Understanding the new lease accounting guidance. Journal of Corporate Accounting and Finance, 28(40), 48-52.

Financial Accounting Standards Board (FASB). (1975). Statement of financial accounting standards no. 5: Accounting for contingencies. Retrieved from http://www.fasb.org/pdf/fas5.pdf

Subramanyam, K. R. (2014). Financial statement analysis (11th ed.). New York, NY: McGraw Hill. ISBN13: 9780078110962

I need to summarize this article and these are the steps
1. Cite the article, the author and journal that it came from
2. Identify the major theme, theory, research question etc.
3. What the author(s) found.
4. Why this is important for your topic and how does it apply to your weekly readings.
5. What you learned from the article.