A finance lease is where a loaned asset is (in most cases) pimped to one party for the useful lifetime of it.
In the accounts of business, it is recorded much the same as a hire-purcase agreement. It is reocrded in the balance sheet (as at <date>) as the cost of the fixed asset (excluding interest) less the provision for dep'n. It is also recorded in the trading profit and loss account (for year ended <date>) as interest due for the year and the dep'n.
The balance sheet also record finance leasing as a liability for future payments (excluding intrest), see accruals, shared betwixt current liabilities and long-term liabilities.
In the accounts of business, it is recorded much the same as a hire-purcase agreement. It is reocrded in the balance sheet (as at <date>) as the cost of the fixed asset (excluding interest) less the provision for dep'n. It is also recorded in the trading profit and loss account (for year ended <date>) as interest due for the year and the dep'n.
The balance sheet also record finance leasing as a liability for future payments (excluding intrest), see accruals, shared betwixt current liabilities and long-term liabilities.
We have secured a finance lease.
by Kung-Fu Jesus April 30, 2004
by Kung-Fu Jesus April 21, 2004
(n.) A 30 year old man who hangs around with teenagers who think he's cool.
(n.) A type of haircut resembling that of the tv guy.
(n.) A type of haircut resembling that of the tv guy.
by Kung-Fu Jesus July 21, 2004
by Kung-Fu Jesus April 17, 2004
a) n. a pill that causes hyperactivity in the male reproductive organs
b) n. a female with the same effect.
b) n. a female with the same effect.
by Kung-Fu Jesus April 26, 2004
What people say when starting a financial recovery. See economic resurgence. It is customary for someone to then ram a steam iron accross the speaker's face and say "Oh yeah?", before engaging in a fight.
by Kung-Fu Jesus April 30, 2004
(n.) A test of strength and grip. Two teams line up on either side of a line and try to pull the other team over with a rope everyone holds.
It is also used as a metaphor in any event (usually political or gang-related) where two teams are trying to constantly outdo eachother.
It is also used as a metaphor in any event (usually political or gang-related) where two teams are trying to constantly outdo eachother.
It was a tug-of-war trying to get funds for the new project at work today. Smith kept trying to get money for his office from the boss while I wanted it to refurnish the office i work in.
by Kung-Fu Jesus May 08, 2004