Explain is this the policy companies using us gaap

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Reference no: EM13129795

British Airways, Plc. (BA),In Note 2: Summary of significant accounting policies, part d: Leased and hire purchase assets, BA states that “Where assets are financed through finance leases or hire purchase arrangements, under which substantially all the risks and rewards of ownership are transferred to the Group, the assets are treated as if they had been purchased outright.” Is this the policy companies using U.S. GAAP follow in accounting for capital leases? Explain.(short answer)

Reference no: EM13129795

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