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This draft Opinion provides for separate disclosure of (a) the total lease rentals charged against operations for each period presented; (b) the minimum annual rentals payable in each of the five succeeding years and thereafter by five-year periods for all leases with noncancelable terms of more than one year; and (c) the present value of all leases with noncancelable terms of more than one year, computed on a net basis if reasonably determinable.
Leases -- Accounting -- Standards -- United States; Disclosure in accounting
Accounting | Taxation
American Institute of Certified Public Accountants. Accounting Principles Board, "Proposed APB opinion : Disclosure of lease commitments by lessees;Disclosure of lease commitments by lessees" (1973). Statements of Position. 351.