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Dear Sir,
Finance lease is recognized at minimal between FV and present value of minimum lease payments.
Q1. If lessee recognized an asset at FV , so should be recognized liability, or liability should be recognized first at PV of minimum lease payments and after adjusted to FV amount of an asset?
Q2. Is this rule also applied to lessor? As I understand, lessor recognizes receivable at PV of minimum lease payments (principal), I mean lessor does not apply rule of minimal between PV and FV like lessee does, Aren’t I right?
Q3. Could it be that lessor and lessee recognized differently the same finance lease? (I mean in terms of calculation)Thank you!
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