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What do you think about the operating leases under GAAP

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Reference no: EM132780193

Question - Could you please explain me these questions regarding the leases under GAAP and IFRS.

Accounting for leases

IFRS insights

Differences: There is not classification test for lesses under IFRS 16. Thus, lessees account for all leases using the finance lease method - that is, leases classified as operating leases under GAAP will be accounted for differently compared to IFRS.

What do you think about the accounting for leases under GAAP and IFRS?

What do you think about the operating leases under GAAP and IFRS?

Since under IFRS the lessees would account all the leases using the finance method, the asset would be recognized in the Balance Sheet just for the lessee and not for the lessor. What do you think about this?

Which one (GAAP or IFRS) is better in your opinion?

Reference no: EM132780193

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