The document provides a comprehensive overview of leasing concepts, including definitions, classifications, accounting treatments, and calculations related to finance and operating leases. Key topics covered include lease assets, minimum lease payments, gross and net investments, and capital versus operating lease criteria as per IAS 17 and FASB Statement 13. Additionally, it discusses various leasing arrangements such as sale and leaseback, and leveraged leasing, along with practical examples and calculations.

1. [In accordance with the requirements of IAS 17 &
FASB Statement 13]
Ahmad Tariq Bhatti
FCMA, FPA, MA (Economics), BSc
Dubai, United Arab Emirates

2. Program Details
1. Lease assets
2. Key concepts
3. Classification
4. Definitions
5. Calculations
6. Accounting
7. Advantages & disadvantages
8. Glossary
9. Appendix A: Leasing Soft-wares
10. References
Leases 2

3. Lease Assets
Leases 3

4. Key Concepts
A lease is an agreement whereby a lessor conveys to a lessee, in return for a
payment or series of payments, the right to use an asset for an agreed period of
time.
A finance lease is an agreement that transfers substantially all risks and rewards
incidental to ownership of an asset. Title may or may not eventually be
transferred.
A non-cancellable lease is a lease that is cancellable only:
Upon the occurrence of some remote contingency,
With the permission of the lessor,
If a lease enters into a new agreement for the same or an equivalent asset
with the same lessor; or
Upon payment by a lessee of such an additional amount that, at inception
of the lease, continuation of the lease is reasonably certain.
The commencement of a lease term is a date from which a lessee is entitled to
exercise the right to use leased assets.
The lease term is a non-cancellable period for which a lessee has signed an
agreement to lease an asset.
Leases 4

5. Key Concepts
Minimum Lease Payments (MLPs) are payments over a lease term that a
lessee is or can be required to make, excluding contingent rents, costs for
services and taxes to be paid by and reimbursed to a lessor together with:
For a lessee, any amounts guaranteed by him or by a party related to
the lessee
For a lessor, any GRV to the lessor by:
 The lessee
 A party related to the lessee or
 3rd party guarantor unrelated to the lessor
Fair Value (FV) is an amount for which an asset could be exchanged, or a
liability settled, between knowledgeable willing parties, in an arm’s length
transaction.
Economic life (EL) is either:
The period over which an asset is expected to be economically usable
by one or more users; or
The number of production or similar units expected to be obtained
from an asset by one or more users.
Leases 5

6. Key Concepts
Unguaranteed residual value (UGRV) is that portion of RV of a leased
asset, realization of which by a lessor is not assured or is guaranteed solely
by a party related to a lessor.
Guaranteed residual value (GRV) is:
For a lessee, that part of RV that is guaranteed by a lessee and
For a lessor, that part of RV that is guaranteed by a lessee or a 3rd
party guarantor
Gross investment in a lease asset is the aggregate of:
MLPs receivable by a lessor under a finance lease, and
Any UGRV accruing to a lessor.
Net investment in a lease asset is gross investment in a lease discounted at
the required interest rate of a lessor.
Initial Direct Costs (IDCs) are costs that are directly attributable to
negotiating and arranging a lease.
Useful life is an estimated remaining period, from commencement of a
lease term, without limitation by a lease term, over which the economic
benefits embodied in an asset are expected to be consumed by an entity.
Leases 6

7. Key Concepts
Unearned Finance Income (U/E-FI) is the difference b/w:
The gross investment in the lease; and
The net investment in the lease.
The Implicit Interest Rate (IIR) in a lease is a discount rate that, at the
inception of a lease, causes aggregate PV of:
The MLPs and
The UGRV to be equal to the sum of;
The FV of the leased asset plus
Any IDCs of the lessor.
Incremental Borrowing Rate (IBR) The rate a lessee would have paid if
he had borrowed funds to purchase an asset
on similar lease
with a similar security
Contingent rent is that portion of lease payments that is not fixed in
amount but is based on the future amount of factor that changes other than
with the passage of time.
Leases 7

8. Classification
There are two main types of leases:
Capital or Financing Lease
Operating Lease
Capital leases are further classified into following types:
1. Financing Lease
2. Leveraged Lease
3. Sales and Lease Back
4. Direct Lease
Leases 8

9. Definitions
FINANCE LEASE
Capitalization Criteria
The criteria about capitalization of leases are given in para 10 of IAS 17 as:
The lease transfers ownership of an asset to a lessee by the end of lease term;
The lessee has the option to purchase the asset at a price that is expected to be
sufficiently lower than the FV at the date the option becomes exercisable for it to
be reasonably certain, at the inception of the lease, that the option will be exercised;
The lease term is for the major part (≥75%)¹ of the economic life of the asset even
if title is not transferred;
At the inception of the lease PV of the MLPs amounts to the FV (≥90%)² of the
leased asset; and
The leased assets are of such a specialized nature that only the lessee can use
without major modification.
Leases 9

10. Definitions
FINANCE LEASES
Additional Capitalization Criteria
Para 11 of IAS 17 gives some more criteria that distinguish capital leases from operating
leases:
If the lessee can cancel the lease, the lessor’s losses associated with the cancellation are
borne by the lessee;
Gains or losses from the fluctuation in FV of RV accrue to the lessee; and
the lessee has the ability to continue the lease for a secondary period at a rent that is
substantially lower than market rent.
Para 12 IAS 17 still goes on to say that the criteria mentioned in para 10-11 are not final.
For instance, it says, if it is clear from other features that the lease does not transfer
substantially all risks and rewards incidental to ownership, the lease is classified as an
operating lease.
__________
¹,² FASB Statement 13 has quantified the values.
Leases 10

11. Definitions
OPERATING LEASE
An operating lease stands in contrast to a financial lease in almost all aspects. This lease
agreement gives to a lessee only a limited right to use an asset. The lessor is responsible
for upkeep and maintenance of an asset. The lessee is not given BPO at the end of the
lease period. This is similar to renting of assets.
SALE & LEASE BACK
Under this arrangement, an owner of an asset sells the asset to a party (the buyer), who
in turn leases back same asset to the owner in consideration for lease rentals. However,
under this arrangement, assets are not physically exchanged but it all happens in records
books only. Sale and lease back transaction is suitable for those assets, which are not
subject to depreciation but appreciation, for instance, a piece of land in a exotic location.
The advantage of this method is that the lessee can satisfy himself completely regarding
the quality of an asset and after possession of an asset convert the sale into a lease
arrangement. The lessor has two sources of earnings under a sales type lease:
A profit, at the lease inception date,
Interest revenue over the lease term.
Leases 11

12. Definitions
LEVERAGED LEASING
Under leveraged leasing arrangement, a third party is involved beside lessor and lessee. A
lessor borrows a part of purchase cost (say 70%) of an asset from a third party i.e., lender
and the asset so purchased is held as a security against such loan. The lender is paid-off
from lease rentals directly by a lessee and surplus after meeting claims of lender goes to
the lessor. The lessor, the owner of an asset is allowed to record depreciation expense
related with that asset.
DIRECT LEASING
Under direct leasing, a company acquires a right to use an asset from a manufacturer
directly. The ownership of an asset leased-out remains with the manufacturer. Most direct-
financing leases involve banks, which make profits by lending money at an interest rate
specified in their contract with the lessee. These banks do not sell assets of the type being
leased but merely provide finance for assets acquired for a lease. Acquisition of vehicles
from the direct outlets of car manufacturers like Honda, Mercedes, Toyota, BMW, Ford,
Jaguar, etc. is an example of direct leasing.
Leases 12

13. MLPs Calculation –
FASB St. 13
Yes No
Check-out if
the lease
contract
includes BPO
Clause???
Then MLPs shall include the Then MLPs shall include the following:
following: Periodic lease payments over the
Periodic lease payments lease term
up-to the date on which The amount of GRV (if any)
BPO becomes exercisable Any payment required by the lessee
Amount of BPO for failure to renew or extend the
lease at the end of lease term
Leases 13

14. RV Calculation – FASB St. 13
& IAS 17
Equals to EL Less than EL
Check-out if
the lease term
equals to
Economic
Life (EL) of
the asset???
It has RV of a leased asset It has two parts:
only. First, cost pertaining to
Note: The lease contract may remaining useful life of
provide to guarantee all, part an asset
or none of asset’s RV. Second, RV of an asset
Leases 14

15. Discount Rate to be Applied by a
Lessee - FASB St. 13 & IAS 17
Yes No
Check-out if
the lease
contract
provides
interest rate
implicit in it?
IBR shall not be used when:
Implicit rate is known, Use IBR for discounting lease
Implicit rate is less than IBR liability over the lease term, if
That means under these two implicit rate is not
conditions implicit rate shall be determinable. Refer to slide 17
used. Refer to slide 17 for MLP for MLP calculations.
calculations.
Leases 15

16. Depreciation Expense Calculation –
FASB St. 13 & IAS 17
Yes No
Check-out if the
lease contract
transfers
ownership at the
end of lease term
or contains BPO
Clause in it???
Depreciate lease asset Depreciate lease asset over
over the economic life. the lease term.
Leases 16

17. Lessee’s Books Lessor’s Books
Lease Payable Lease Receivable
Lease Receivable/Payable Amount = FV - PV of GRV - PV of UGRV (If any)
[Lease Payable amount represents the PV of MLPs from lessee’s perspective]
Leases 17

18. Leases 18

19. Implicit Rate versus IBR
FASB Statement 13 requires the lessee to use his IBR in calculating the PV of MLPs unless
(1) the lessee can determine the implicit rate in the lease and (2) the implicit rate is less
than the lessee’s IBR.
IAS 17 para 20, says, the discount rate to be used in calculating the PV of the MLPs is the
interest rate implicit in the lease, if this is practicable to determine, if not, then lessee’s IBR
shall be used. Any IDCs of the lessee shall be added to the amount to be recognized as an
asset.
In practice, the number of instances in which the IBR should apply is small, for the following
reasons:
1. Most lessors disclose the interest rate implicit in their lease agreements.
2. The lessee knows the FV of the asset being leased to him.
3. Leased asset may be subject to high rate of obsolescence, which makes expected RVs
nominal. Thus, the impact on FV of the asset is negligible.
Important note: The calculations for lease receivable amount by a lessor at his required
rate of return on his investment in an asset are done for every lease deal separately. For a
lessee, it becomes implicit interest rate. He has to calculate it or it shall be known to him by
a lessor.
Lease 19

20. An annuity is a series of equal cash f lows occurring at equal intervals over a
period of time.
Ordinary Annuity: If the first cash flow occurs at the end of the first period,
the annuity is called Ordinary Annuity or an Annuity in Arrears.
Annuity Due: If the first cash flow occurs at the beginning of first period. The
annuity is called an Annuity Due or an Annuity in Advance.
PV of MLPs under Ordinary Annuity =
PV of MLPs under Annuity Due = (1+r)
Leases 20

21. Accounting
Date Description Ref. Debit Credit
Finance Lease: Lessor’s Books AED. AED.
1/1/20xx Lease Receivable xxx
Asset xxx
(Lease Receivable recorded at Net Investment in Leased Asset by the lessor)
Cash xxx
Lease Receivable xxx
(On receipt of 1st lease installment)
31/12/20xx Lease Receivable xxx
Interest Income xxx
(On booking interest income earned)
Leases 21

22. Accounting
Date Description Ref. Debit Credit
Finance Lease: Lessee’s Books AED. AED.
1/1/20xx Lease Asset xxx
Lease Payable xxx
[Lease asset and lease liability shall be recorded at lower of : (1) PV of MLPs or (2) FV of asset, at
the inception of the lease]
Lease Payable xxx
Cash xxx
31/12/20xx Interest Expense xxx
Lease Payable xxx
Lease Payable xxx
Cash xxx
Depreciation expense xxx
Accumulated Depreciation xxx
Depreciation of an asset is charged over:
 The EL of an asset, if ownership transfers to lessee at the end of lease term or there is a BPO
 The term of lease, if title does not transfer or there is no BPO
Leases 22

23. Accounting
Finance or Capital Leases
Financial Statements’ Presentation & Disclosure
Statement of Comprehensive Income
For the financial year ended December 20xx
Lessor’s Perspective Lessee’s Perspective
AED. AED.
Interest Revenue xxx Interest Expense xxx
Depreciation Expense xxx
Important note: For the information to be included in explanatory notes to
the financial statements of lessee and lessor, refer to para 31 and para 47of
IAS 17 respectively.
Leases 23

24. Accounting
Finance or Capital Leases
Financial Statements’ Presentation & Disclosure
Statement of Financial Position
As at December 31, 20xx
Lessor’s Perspective Lessee’s Perspective
ASSETS AED. ASSETS AED.
Lease Receivable xxx Leased Asset xxx
Less: Accumulated Dep. (xxx)
Net Leased Asset xxx
LIABILITIES
Lease Liability xxx
Leases 24

25. Accounting
Date Description Ref. Debit Credit
Operating Lease: Lessor’s Books AED. AED.
1/1/20xx. Cash xxx
Lease Rental Revenue xxx
(Being the revenue earned through leased assets rental)
31/12/20xx Depreciation Expense xxx
Accumulated Depreciation xxx
(Being the depreciation of leased asset recorded)
Operating Lease: Lessee’s Books
Lease Rent Expense xxx
Cash xxx
(Being the lease rent expense paid)
Important note: For the information to be included in explanatory notes to the
financial statements of lessor and lessee, refer to para 56 and para 35 respectively.
Leases 25

26. Accounting
Operating Leases
Financial Statements’ Presentation & Disclosure
Statement of Comprehensive Income
For the financial year ended December 20xx
Lessor’s Perspective Lessee’s Perspective
AED. AED.
Lease Rental Revenue xxx Lease Rental Expense xxx
Depreciation Expense xxx
Important note: For explanatory notes to be included in the financial
statements of lessor and lessee, refer to para 56 and para 35 respectively.
Leases 26

27. Land & Building Lease
When a lease includes both land and buildings, a
company MUST consider land and building parts
separately for their classification as operating or
finance lease. MLPs are allocated between the
land and buildings parts in proportion to the
relative FVs of the leasehold interests in the land
and buildings parts.
Leases 27

28. On January 01, 2008, AAA company leased-out a generator to BBB company .
The terms and conditions of the lease are as given below:
# Description of Terms & Conditions of the lease:
1 Cost to AAA and FV of the generator is AED. 20,000
2 Term of lease, 4 years (covers 67% of EL of the generator)
3 Economic life of the asset, 6 years
4 The lessee has guaranteed 100% RV, at the end of lease term, VIZ estimated at
AED. 3,000
5 Implicit rate of interest used in the lease payments and lessee’s IBR is 12%
6 Annual lease payments to be made at the beginning of each year is (annuity
due) are determined by the lessor as given on next slide.
7 The lease uses straight-line depreciation on the leased asset.
Leases 28

29. Description Amount
AED.
Cost & FV of the generator 20,000
PV of GRV (1,906)
PV of MLPs (≥90% i.e. 90.47%) 18,094
Annual Lease Payment (Recoverable amount / PV factor)
Annual Lease Payment (AED. 18,094 / 3.4018) 5,319
PV of GRV =
PV of GRV = 3,000/(1.12)^4 = 3,000 x 0.6355 = 1,906
The aggregate PV of MLPs to be recovered is ≥90%, therefore, it is a capital lease.
Leases 29

30. Annual Net
Lease Receivable/P Interest Net
Reduction in
Payments ayable Revenue/Ex Receivable/Paya
Year Receivable/Paya
(Annuity outstanding pense for the ble on 31
ble Balance
Due during the year December
Method) year
1 2 3 4 5 6
6-2 3x12% 2-4 3+4
AED. AED. AED. AED. AED.
01/01/08 - - - - 20,000
01/01/08 5,319 14,681 1,762 3,557 16,443
01/01/09 5,319 11,124 1,335 3,984 12,459
01/01/10 5,319 7,140 857 4,462 7,997
01/01/11 5,319 2,678 322 4,997 3,000 (RV)
Total 21,276 4,276 17,000
Leases 30

31. Lessor’s Books [AAA Co. Books] Lessee’s Books [BBB Co. Books]
Description Dr. Cr. Description Dr. Cr.
1 Lease Receivable 20,000 1 Lease Asset- Generator 20,000
Lease Asset - Generator 20,000 Lease Liability 20,000
(To record capital lease on 01/01/08) (To record capital lease on 1/1/08)
2 Cash 5,319 2 Lease Liability 5,319
Lease Receivable 5,319 Cash 5,319
(To record the 1st lease payment on 01/01/2008) (To record lease payment on 1/1/08)
3 Lease Receivable 1,762 3 Interest Expense 1,762
Interest Revenue 1,762 Lease Liability 1,762
(To record interest earned on 31/12/08.) (To record interest expense on 31/12/2008)
4 Depreciation Expense 4,250
Accumulated Depreciation 4,250
To record Depreciation [(20,000-3000)/4 = 4,250 p.a.]
Leases 31

32. Lessor’s Books [AAA Co. Books] Lessee’s Books [BBB Co. Books]
Description Dr. Cr. Description Dr. Cr.
1 Cash 5,319 1 Lease Liability 5,319
Lease Receivable 5,319 Cash 5,319
(To record the last lease payment) (To record lease payment on 01/01/2011)
2 Lease Receivable 322 2 Interest Expense 322
Interest Revenue 322 Lease Liability 322
(To record interest earned on 31/12/11) (To record interest expense on 31/12/2011)
3 Lease Asset – Generator 3,000 3 Depreciation Expense 4,250
Lease Receivable 3,000 Accumulated Depreciation 4,250
(Final Settlement entry 31/12/11) To record Depreciation [(20,000-3000)/4 = 4,250 p.a.]
4 Accumulated Depreciation 17,000
Lease Liability 3,000
Lease Asset 20,000
(Final settlement entry on 31/12/11)
Leases 32

33. Advantages
1. There is no requirement to pay entire amount upfront for an asset acquired
through a lease arrangement. Further, it provides flexible payment plan suiting
best to the businesses according to their income streams and cash flow patterns.
2. The arrangement under leases provide great deal of flexibility in terms of
adopting to rapid changes in technology and capacity needs from lessee’s point
of view. It helps companies to stay competitive in business.
3. Leasing arrangement has resolved critical cash problem for a lessee by providing
100% financing for a leased asset.
4. Leases preserves credit-lines for other business pursuits like purchase of
inventory of raw materials, project finance or other emergency uses.
5. Leasing may help a manufacturer accelerate sales of his products.
Leases 33

34. Advantages
6. A lessee may avoid many of restrictive covenants that are usually part of long
term contracts for credit-lines. Requirements with respect to, minimum net
working capital, subsequent borrowings, changes in management, mortgages or
pledges on assets, nominees in Board of Directors, and so on are not normally
found in lease contracts.
7. Leasing arrangements help a lessor to prevent dilution of ownership which
otherwise is inherent when equity shares or convertible bonds are issued for
raising the necessary finance for acquisition of assets.
8. The use of sale and lease back arrangements may permit a company to increase
liquidity by converting an existing asset into cash that can be used as a working
capital.
9. Leasing balances usage and cost of an asset. Leasing makes sense when an asset
used creates a return that exceeds its cost. It is said for this point that leases means
good business sense.
Leases 34

35. Advantages
10. Leasing provides fixed rate financing. Leasing is not subject to market fluctuations
and interest rate increases. One can negotiate periodic lease payments and secure a
fixed rate for the term of lease. This makes it much easier to manage project cash
flows and budgets for planning purposes.
11. Leasing provides hedge against inflation. Since lease payments apply to use of an
asset and are not paid for ownership of an asset that depreciates consistently.
Furthermore, cash savings can yield a return that fights inflationary pressures.
12. Leasing conserves working capital. Leasing enables a lessor to save working
capital for his company, since it covers all costs associated with capital asset
purchases like maintenance, insurance, up-keep etc., etc.
13. Leasing may help a lessee to avoid the risk and cost of idle asset after required
utility of an asset is over.
Leases 35

36. Advantages
14. Lease mode of financing is also compared to security-tied credit. It saves capital
for other needs of a company.
15. In case of operating leases arrangement, the lessee’s Debt to Equity Ratio and
Return on Capital Employed (ROCE) is not increased. This is due to off-
balance sheet financing of the asset.
16. Operating lease provides tax benefits to a lessor. Some leasing companies
transfer tax benefits received from ownership of assets to lessees through
competitive rates and lower execution fees.
17. With a bank loan or direct purchase, a company normally claim depreciation
according to IAS 16 recommendation of useful life of an asset. Depreciation for
an asset can be spread over 5 to 7 years. However, the same asset under a lease
can be expensed-out 100% over the lease term selected by a company. This
could, for instance, write-off an asset over 3 years instead of 5 or 7 years. This
will, eventually, provide bigger tax benefits to the lessee.
Leases 36

37. Disadvantages
1. A company is unable to sell or sub-lease an asset in the event it is no longer
required and cannot upgrade it to a newer or better asset without either
paying-off the remaining contract dues, or paying fines to cancel the contract.
2. A lessee loses certain tax benefits which are available to a lessor (owner)
who uses the assets himself.
3. A lessee has often to bear technological obsolescence since some lease
contracts have non-cancelable clause in them.
4. Early termination of a contract by a lessee may impose severe penalties from
a lessor.
5. Although leasing avoids paying an upfront amount, over a long period of
time, it often works out considerably more expensive than outright purchase.
A company pays cost of asset as well as the leasing companies charges and
other dues incidental to the lease contract.
6. Lessees are responsible for the maintenance and repair of leased asset. Some
leasing companies allow lessee to cover the maintenance and repair costs for
an extra sum in their lease installment.
Leases 37

38. Glossary
1. Lessor may be owner of an asset being leased.
2. Lessee is a party to whom right to use an asset is being transferred.
3. Bargain Purchase Option (BPO) refers to a provision giving the lessee the right to acquire
leased asset at a price so favorable that exercise of the option appears reasonably assured at
the inception of the lease.
4. Bargain Renewal Option (BRO) refers to a provision that gives the lessee a right to renew a
lease at a rental so favorable that exercise of the option appears reasonably assured at the
inception of the lease.
5. Contingent rentals means increase or decrease in lease payments after the inception of a
lease that result from changes in factors on which lease payments are based.
6. Economic Life (E/L) of a leased asset means the remaining usable life of an asset for the
purpose to serve.
7. Fair Value (FV) of a leased asset refers to normal selling price.
8. Inception of Lease Contract refers to date of lease contract.
9. Sublease (S/L) refers to further transfer of the right to use an asset from a lessee to a third
party. It is subject to the contract between first and second party.
10. Lease Term refers to the fixed non-cancellable term of a lease.
Leases 38

39. Glossary
11. Minimum Lease Payments (MLP): Consists of all amounts that a lessee is obligated to pay
under the terms of a lease agreement. It excludes contingent rents, costs for services and taxes
paid by a lessor. These shall be additional payments.
12. Estimated Residual Value (ERV) refers to FV of an asset at the end of the lease term. It has
two parts namely Guaranteed Part and Unguaranteed Part. FV is calculated for two parts
separately and then added to show ERV.
13. Guaranteed Residual Value (GRV) A lessee’s assurance to a lessor that lessor will recover at
least guaranteed amount at the end of the lease term. A lessor usually writes this clause in his
contract in order to cover risk of deterioration of an asset value beyond what is mentioned in a
contract.
14. Unguaranteed Residual Value (UGRV) The portion of a leased asset’s RV at the end of a
lease term that is not guaranteed by a lessee.
15. Initial Direct Costs (IDCs) are costs of legal consultancy, processing of documents,
negotiating the contracts etc., etc.
16. Incremental Borrowing Rate (IBR) refers to a rate that a lessee otherwise had paid to the
borrowed amount to acquire an asset under similar lease arrangement.
17. Implicit Interest Rate (IRR) refers to the discount rate (applied to MLPs & GRV) that causes
the aggregate PV to be equal to FV of leased asset to a lessee.
Leases 39

40. Abbreviations used
# Abbreviation Description
1 BPO Bargain Purchase Option
2 BRO Bargain Renewal Option
3 b/w Between
4 GRV Guaranteed Residual Value
5 EL Economic Life
6 ERV Estimated Residual Value
7 FV Fair Value
8 IBR Incremental Borrowing Rate
9 IIR Implicit Interest Rate
10 IDCs Initial Direct Costs
11 F/Y Final Year
12 MLPs Minimum Lease Payments
13 PV Present Value
14 RV Residual Value
15 S/L Sublease
16 UGRV Unguaranteed Residual Value
17 U/E-FI Unearned Finance Income
Leases 40

41. Appendix A
Leasing Soft-wares
# Name Web address
1 SiriusPro Rental Software http://www.orion-soft.com
2 Dominion Leasing Software http://www.dominionls.com
3 LeaseWave http://www.odessatechnologies.com
4 ProLease http://www.proleasesoftware.com
5 AMTdirect http://www.amtdirect.com
6 Propertyware http://www.propertyware.com
7 LeaseEagle http://www.leaseeagle.com
8 Visual Lease http://www.visuallease.com
9 Skire Unifier http://www.skire.com
10 Ryznware Software http://www.ryzn.com
Leases 41

42. # Source Entitled/Author
1 IAS 17 Leases
2 SIC-15 Operating leases incentives
3 SIC-27 Evaluating the substance of transactions involving the legal form of a lease
4 SIC-29 Service concession arrangements: Disclosures
5 SIC-32 Intangible assets – Website costs
6 IFRIC 4 Determining whether an arrangement contains a lease
7 IFRIC12 Service concession arrangements
8 FASB St. 13 Leases
9 Intermediate Lanny G. Chasteen, Richard E. Flaherty, Melving C. O’Connor
Accounting 5/e
Leases 42

43. FCMA, FPA, MA (Economics), BSc.
Contact:
At.bhatty@gmail.com
Leases 43