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Lease Accounting

This topic has 5 replies, 2 voices, and was last updated 11 years ago by MikeLittle.

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April 9, 2011 at 11:47 am #48038
salu007
- Topics: 58
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Hi Mr. Mike,

I had a question regarding Leases.How do we account for when a dealer or manufaacturer gives us a option of buying or leasing.how do we show this in the FS.
April 13, 2011 at 5:07 pm #80709
MikeLittle
Keymaster
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I don’t honestly know! And I don’t remember this point ever being in an exam question. I could guess and say that it should be shown as an asset at a value ( which the examiner would give you ). However, I’ll need to apply my mind deeply to the problem of where the credit entry would be – maybe credited within SoCI.

BUT THAT’S ALL GUESS WORK – sorry 🙁
April 14, 2011 at 5:36 am #80710
salu007
- Topics: 58
- Replies: 32
Hi MR. Mike

Thankyou Mr. Mike i will try to see the Standard which i got from IASplus may that might help.
April 15, 2011 at 11:37 am #80711
MikeLittle
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Let me know if you still have a problem
April 15, 2011 at 12:21 pm #80712
salu007
- Topics: 58
- Replies: 32
Sure Sir,

Thankyou for your support
April 22, 2011 at 1:25 pm #80713
MikeLittle
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- Topics: 26
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welcome
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