《花旗银行融资租赁外文原版教材》(432页).rar 11/96　DRAFT p12/3/99 TABLE　OF　CONTENTS Unit　1:　Understanding　the　Leasing　Industry Introduction...............................................................................................　1-1 Unit　Objectives　.........................................................................................　1-1 What　Is　a　Lease?　.....................................................................................　1-2 Definition　of　a　Lease.....................................................................　1-2 Industry　Viewpoint　........................................................................　1-2 History　of　the　Leasing　Industry.................................................................　1-3 Early　History.................................................................................　1-3 Development　of　the　United　States　Leasing　Industry....................　1-4 Equipment　Leasing　Today　.......................................................................　1-5 Market　Segments　.........................................................................　1-5 Small　Ticket　Market..........................................................　1-6 Large　Ticket　Market..........................................................　1-6 Middle　Market....................................................................　1-6 Today＇s　Lessors...........................................................................　1-6 Independent　Leasing　Companies　....................................　1-7 Captive　Finance　Organizations........................................　1-8 Lease　Brokers　or　Packagers　...........................................　1-8 Summary..................................................................................................　1-9 Progress　Check　1.1　...............................................................................　1-11 Reasons　Lessees　Lease　Equipment　....................................................　1-15 Hedge　Against　Technological　Obsolescence............................　1-15 Financial　Reporting　....................................................................　1-16 Off　Balance　Sheet　Financing　.................................................................　1-16 Reported　Earnings　.........................................................　1-17 Return　on　Assets　...........................................................　1-17 Spending　Authority　.........................................................　1-17 Cash　Management.....................................................................　1-17 Lower　Down　Payments..................................................　1-18 Lower　Monthly　Payments...............................................　1-18 ii　TABLE　OF　CONTENTS DRAFT　v01/11/96 p12/3/99 Unit　1:　Understanding　the　Leasing　Industry　(Continued) Improved　Cash　Forecasting...........................................　1-18 Capital　Budget　Constraints　............................................　1-18 Cost　Constraints　............................................................　1-19 Income　Tax.................................................................................　1-19