Assertion: lease | /r/HasProperty | finance
Facets:
value: for accounting purposes
type: PURPOSE
value: under ifrs
type: OTHER
Source sentences:
text: The determination of whether a lease is a finance (also called capital) lease or an operating lease from an accounting point of view is defined in the United States by Statement of Financial Accounting Standards
text: Under IFRS 16, all leases are now considered finance leases unless they meet certain exceptions.
text: Following the second Exposure Draft, the IASB decided to require all leases to be treated as finance leases.
text: Lastly, a lease can be considered a finance lease for accounting purposes if the lease agreement substantially transfers the risks and rewards incidental to ownership of the asset to the lessee.