Summarized below the basic accounting treatment for Operating Lease.
In The Books of Lessee
The lease payment should be recognized as an expense in the Income Statement on a straight line basis over the lease term.
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For those unfamiliar between Finance Lease and Operating Lease,tabulated below in summary some of the differences: Finance Lease Operating Lease Lease period is normally related to the useful life of the asset Usually of a shorter duration and [...] Understand some of the basic Types of Joint Ventures
Understand the basic difference between Joint Venture and Partnership For those unfamiliar between Hire Purchase and Installment System,tabulated below in summary some of the differences: Hire Purchase Installment System This article looks at some of following reasons / justifications / advantages of having department accounts Advantages Each department is viewed as separate profit centre where department accounts is useful to evaluate performance of individual department by ascertaining trading,profit or loss of each department The financial results namely [...] |  FCCA,CA(MIA)with more than 26 years of post-qualifying working experiences. Previous working stints with one of the big accounting four,Regional GFC & Group Treasurer in a group of Malaysian and Group CFO in Singapore public listed concern.Also author to another very popular free educational accounting cum finance blog:http://basiccollegeaccounting.com under the branding of College Accounting Coach. | |||||
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