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According to current GAAP, leased property recorded as a capital lease normally should be reported as a long-term or intangible asset on the balance sheet of the lessee and the lessor as follows:
Prescriptive Norms
Social rules that dictate what behavior is expected or appropriate within a community or society.
Proscriptive Norms
Social rules that dictate what behaviors are forbidden or discouraged within a society or group.
Ethnomethodology
A sociological approach that studies the way people make sense of their everyday world, emphasizing the methods and practices individuals use to constitute their social realities.
Rational Choice Theory
A framework for understanding and modeling social and economic behavior based on the assumption that individuals act rationally, making decisions to maximize their personal benefit.
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