Versailles Financial (Versailles Financial) Long-Term Capital Lease Obligation : $0.00 Mil (As of Sep. 2012)

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What is Versailles Financial Long-Term Capital Lease Obligation?

Versailles Financial's Long-Term Capital Lease Obligation for the quarter that ended in Sep. 2012 was $0.00 Mil.

Versailles Financial Long-Term Capital Lease Obligation Historical Data

The historical data trend for Versailles Financial's Long-Term Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
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Versailles Financial Long-Term Capital Lease Obligation Chart

Versailles Financial Annual Data

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Long-Term Capital Lease Obligation

Versailles Financial Quarterly Data
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Versailles Financial (OTCPK:VERF) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

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Versailles Financial (Versailles Financial) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Versailles Financial Corp (OTCPK:VERF) » Definitions » Long-Term Capital Lease Obligation

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Address

10413 Kley Road, PO Box 92, Versailles, OH, USA, 45380

Website

http://www.versaillessavingsbank.com

Versailles Financial Corp is an Ohio chartered savings and loan company. Its business consists of accepting savings accounts and certificates of deposits from the general public and investing those deposits. The company also offers real estate loans and other services.

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