Interested to Buy Any Domain ? << Click Here >> for more details...
what are the types of leasing and their accounting entries?
- 2 Answers
- 9334 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / h.r. sreepada bhagi
Leases are classified as Financial Lease & Operating Lease.
Under IFRS(IAS 17)& Indian GAAP(AS 19) -
A Lease is a Finance Lease if it transfers substantially all
the risks & rewards incident to the ownership.
All Other Leases are classified as Operating Leases.
Under Finance Lease the Lessee Accounts the Asset and claims
depreciation & The Asset will not appear in the books of the
Lessor.
Under Operating Lease the Assets will be shown in the books
of the Lessor & the Lease payments will be treated as Income
in his book. Where as the Lessee shows the lease payments as
expenses.
The treatment of different types of Leases & their sub-types
my differ as per GAAP of any other country. For detailed
information please refer the relevant Accounting Standard
under the applicable GAAP.
| Is This Answer Correct ? | 9 Yes | 0 No |
Answer / rajesh
There are 2 types of leases Operational lease & Capital
lease.
Capital leases are capitalised at the end of the leasing
period till that time the owener ship is with lessee.
Operational lease is the lease whose ownership is never
transferred.
| Is This Answer Correct ? | 0 Yes | 4 No |
classify the following into real, nominal, personal account 1. Discount account 2. interest on debenture 3. Land account 4. salary account 5. carriage account 6. printing & stationary account 7. stock account
What is the defination/meaning of Mercantile Accounting?
what is diffference between retail invoice and tax invoice ?
Where we have to take the Director's current account, wages a/c, Accruals, sales tax payable in Balancesheet
Explain the term linear approximation.
Diiference between Cash & Mercantile System
How many types of routing?
what is capital budgeting and techniques of capital budgeting.
9 Answers Infosys, Suzuki, Wipro,
Salry pai dto Sharma debited to Sharma account is it correct.If not correct rectify it
What is capital market?
what is the use of memmorandam voucher in tally ?
according to double entry system there are three types of account... so what is the nature of suspense account??
Audit 
