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These excerpts taken from the AYR 10-K filed Mar 2, 2009. Lease
Revenue Recognition
Our operating lease rentals are recognized on a straight-line
basis over the term of the lease. We will neither recognize
revenue nor record a receivable from a customer when
collectability is not reasonably assured. Estimating whether
collectability is reasonably assured requires some level of
subjectivity and judgment. When collectability is not reasonably
assured, the customer is placed on non-accrual status and
revenue is recognized when cash payments are received.
Management determines whether customers should be placed on
non-accrual status. When we are reasonably assured that payments
will be received in a timely manner, the customer is placed on
accrual status. The accrual/non-accrual status of a customer is
maintained at a level deemed appropriate based on factors such
as the customer credit rating, payment performance, financial
condition and requests for modifications of lease terms and
conditions. Events or circumstances outside of historical
customer patterns can also result in changes to a
customer’s accrual status.
Lease Revenue Recognition Our operating lease rentals are recognized on a straight-line basis over the term of the lease. We will neither recognize revenue nor record a receivable from a customer when collectability is not reasonably assured. Estimating whether collectability is reasonably assured requires some level of subjectivity and judgment. When collectability is not reasonably assured, the customer is placed on non-accrual status and revenue is recognized when cash payments are received. Management determines whether customers should be placed on non-accrual status. When we are reasonably assured that payments will be received in a timely manner, the customer is placed on accrual status. The accrual/non-accrual status of a customer is maintained at a level deemed appropriate based on factors such as the customer credit rating, payment performance, financial condition and requests for modifications of lease terms and conditions. Events or circumstances outside of historical customer patterns can also result in changes to a customer’s accrual status. This excerpt taken from the AYR 8-K filed Sep 26, 2007. Lease Revenue Recognition Our operating lease rentals are recognized on a straight-line basis over the term of the lease. We will neither recognize revenue nor record a receivable from a customer when collectibility is not reasonably assured. Estimating whether collectibility is reasonably assured requires some level of subjectivity and judgment. When collectibility is not certain, the customer is placed on non-accrual status and revenue is recognized when cash payments are received. Management determines whether customers should be placed on non-accrual status. When we are reasonably assured that payments will be received in a timely manner, the customer is placed on accrual status. The accrual/non-accrual status of a customer is maintained at a level deemed appropriate based on factors such as the customer credit rating, payment performance, financial condition and requests for modifications of lease terms and conditions. Events or circumstances outside of historical customer patterns can result in changes to a customer’s accrual status. | EXCERPTS ON THIS PAGE:
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