Equipment Leasing is a practical reference for financial managers who need background information, and an understanding of how leasing can be utilized as a cost-effective means of equipment financing especially under the new tax law in the United States. It explores various types of leases, including single investor leases, leveraged leases, tax requirements for true leases' and lease-buy economic analysis. This invaluable resource includes the background and basics of equipment leasing, history of leasing, synthetic leases, financial reporting of lease transactions by lessees, operating a leasing company, and much more.
SECTION I: BACKGROUND AND FUNDAMENTALS OF EQUIPMENT LEASING. 1. The Fundamentals of Equipment Leasing. 2. History of Leasing. 3. Financial Reporting of Lease Transactions by Lessees. 4. Synthetic Leases. 5. Federal Income Tax Requirements for True Lease Transactions. 6. A Framework for Analyzing the Lease versus Borrow-to-Buy Problem. SECTION II: OPERATING A LEASING COMPANY. 7. Considerations in Establishing and Operating a Leasing Company. 8. Credit Policies and Lease Portfolio Administration. 9. Analysis of Financial Statements of Leasing Companies for Purposes of Lending to or Investing in Leasing Companies. 10. Concerns of Manufactures/Vendors in Establishing a Product Sales Financing Program. 11. Lessor Concerns with Disposition of Residuals. 12. Guidelines for Obtaining and Maintaining Adequate Insurance Coverage. SECTION III: LEASE DOCUMENTATION FOR A NONLEVERAGED LEASE TRANSACTION. 13. Terms of a Typical Nonleveraged Lease. 14. A Typical Lease Schedule. 15. Other Lease Documents. SECTION IV: LEVERAGED LEASES. 16. Leveraged Lease Fundamentals. 17. Arranging and Documenting a Leveraged Lease. 18. Pricing and Analysis of Leveraged Leases. SECTION V: STRUCTURED FINANCE FOR LEASING COMPANIES. 19. Securitization and Other Structured Finance Techniques for Equipment Leasing Companies. Appendix: Historic Milestones in Equipment Leasing. Glossary. Index.