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How to account for a finance lease - part 1 of 2

Publication date: 2014-03-31 22:21:49

The accounting standards define a finance lease agreement as agreement concluded for a definite period, which meets at least one of the criteria enumerated in the accounting standards.

In the case of a finance lease tax law is fortified by other criteria than just the balance sheet. International financial reporting standards (IAS 17 "Leases") as a financial lease agreement considers such an agreement in which the lessee takes over all substantial benefits and risks of ownership of the leased asset.

S.Ekman - General Manager
FY AUDIT/24iValue

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