Topic 10 - Leases Flashcards
1
Q
What are the 3 x elements in identifying a lease?
A
2
Q
How is a lease term calculated?
A
3
Q
How are leases classified? Identify the differences between the 2 x types of lease from the lessor perspective;
A
4
Q
Describe the initial recognition and measurement of a finance lease;
A
5
Q
What payments are included in the calculation of the net investment in the lease?
A
6
Q
Describe the accounting entry for including DIRECT costs in the net investment in the lease;
A
7
Q
Describe the accounting entries for the subsequent measurement of the finance lease;
A
8
Q
Describe the calculation for the subsequent measurement of the lease where payment is in arrears;
A
9
Q
Describe the calculation for the subsequent measurement of the lease where payment is in advance;
A
