In conversations with employers, we find that the ability to clean, manage, and analyze data is a skill that sets students apart as job candidates. This project provides the opportunity for you to practice this skill using the data visualization tool -Tableau. Thissoftware allows the user to transform data into pictures in order to gain a better understanding of the data. In addition, the project should help you understand the broader picture of leases within the United States and abroadwhile comparing the current lease accounting standard to the previous accounting standard. The leasedataset (Tableau_Data) posted on Canvas includes data onimputed operating lease amounts (Imputed OperatingLease Interest Expense, Imputed OperatingLease Depreciation,Assets on Operating Lease –Gross, Assets on Operating Lease -Accumulated Depreciation, Debt Equivalent OperatingLeases); CurrentPortionof CapitalLeases; Capital Leases; Assets under Capital Lease –Gross;Financial Accounting Standard;and other firm-level information for a broad group of publicly traded companies in the U.S. and other countries. Students must work in groups randomly determined by Canvas. The deliverable for the project is a memo of a maximum of 3 pages, single-spaced, 12-point font(supporting material such as pictures, tables, and references should be contained in a maximum of 3 additional pages). The memo should be focused on answering the questions listed below. The conclusions in the memo should be supported with visualizations formed from using Tableauand any relevant external sources.
3.If a financial statement user can capitalize off-balance sheet operating lease assets and liabilities using lease disclosures, why create a new standard mandating capitalization?