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Dear All,
A quick question on leases. If its a finance lease the asset should be recognized by the lessee at the minimum lease payments. Now just to be sure of this would the minimum lease payment include:
Cost of finance lease (less prior period installments)
Less year depreciation charge
Add interest on lease (discounted)In otherwise I would be very greatful if you could please indicate what figures should be included to arrive to the minimum lease payment carried in the balance sheet.
Thank you for your time and have a great day,
Luke
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