Comment by jfengel
3 months ago
I'm not an accountant, but "contractually obligated to pay" sounds like a debt to me.
If the Generally Accepted Accounting Principles don't require that to manifest on the balance sheet, then it sounds like the principles aren't very good ones.
It’s not though. Signing a lease isn’t debt. If you rent an apartment you haven’t taken out a loan from your landlord.
Being conceptually similar isn’t the same thing as identical.