What is a lease according to accounting standards

Assignment Help Accounting Basics

Reference no: EM131482865 , Length: 2

Write 2 page notes only to take this notes into essay under this question:

In-class essay: accounting for leases - Research and study the following in order to be well prepared:

- What is a lease according to accounting standards?

- How do we account for leases under AASB117

- How do we account for leases under AASB 16

- What are the main differences between the standards?

- Why was AASB 117 replaced?

- What are operating leases and finance leases?

- What is meant by 'off-balance sheet' (ie, DO not assume it means operating leases are not recorded)?

- What are the impacts on financial information as a result of the changes to accounting for leases?

- At least one example of a company who leases and how this might impact them.

Also, I need 2 references (journal articles).

Reference no: EM131482865

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len1482865

5/3/2017 7:04:50 AM

I need 2 page notes only to take this notes into class essay under this question: around 500 words. Also, I need 2 references (journal articles). Students should research and study the following in order to be well prepared: What is a lease according to accounting standards?

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