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financing lease

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › financing lease

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by Stephen Widberg.
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  • March 16, 2021 at 2:11 am #614491
    Noah098
    Member
    • Topics: 935
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    sir if a lease is a finance lease on all grounds, except the condition which states that “ownership will pass on to the lessee at the end of the lease term” in that case how should the non-current asset be treated?

    will it still be derecognised from lesser’s books fo account and occur as ROUA in lessee’s books? or that lessor will continue to recognise it with lessee just recording a lease liability?

    March 16, 2021 at 3:19 pm #614529
    Stephen Widberg
    Keymaster
    • Topics: 12
    • Replies: 2839
    • ☆☆☆☆☆

    Lessee – R of U asset and liability (unless short or low value)

    Lessor – Lease receivable and finance income – if finance lease

    When discussing the LESSEE do NOT mention the word FINANCE LEASE

    🙂

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