Omni Financial Services (Omni Financial Services) Long-Term Capital Lease Obligation : $0.00 Mil (As of Sep. 2007)

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What is Omni Financial Services Long-Term Capital Lease Obligation?

Omni Financial Services's Long-Term Capital Lease Obligation for the quarter that ended in Sep. 2007 was $0.00 Mil.

Omni Financial Services Long-Term Capital Lease Obligation Historical Data

The historical data trend for Omni Financial Services'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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Omni Financial Services Long-Term Capital Lease Obligation Chart

Omni Financial Services Annual Data

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Long-Term Capital Lease Obligation

Omni Financial Services Quarterly Data
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Omni Financial Services (OTCPK:OFSI) 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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Omni Financial Services (Omni Financial Services) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Capital Markets » Omni Financial Services Inc (OTCPK:OFSI) » Definitions » Long-Term Capital Lease Obligation

Traded in Other Exchanges

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Address

12610 New Brittany Boulevard, Suite 2300, Ft. Myers, FL, USA, 33907

Website

http://www.omnifinserv.com

Omni Financial Services Inc is a financial services firm, helping its clients improve their long-term financial success. It offers financial products and the advice and expertise of financial professionals in the industry. It provides financial solutions to individuals and businesses.

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