Accounting for a Finance/Capital Lease with Executory Costs: IFRS & ASPE (rev 2020)
Channel: The Business Doctor
Date: 2020-05-13

This video illustrates how to account for a Canadian IFRS Finance lease or a Canadian ASPE Capital Lease with executory costs.

The video includes the following learning objectives:

LO1: Calculate Lease Payments from the LESSOR perspective including Executory Costs.
LO2: Assess all relevant Capital Lease Classification Criteria for the LESSEE and LESSOR under ASPE.
LO3: Prepare necessary journal entries to account for a
capital lease from the LESSEE and LESSOR perspectives with Executory Costs and no transfer of ownership.
LO4: Prepare relevant partial financial statements for the LESEEE and LESSOR to illustrate how capital leases are reported.

Here's the problem data file to accompany this video:
https://drive.google.com/file/d/1CQbsRGLLNueydgzeSKOGaiRYqYlrvnJT/view?usp=sharing