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.
by Kung-Fu Jesus April 30, 2004
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A well known PB Developer, who also runs the XYLEM Team (PB Development Team) and holds the XYLEM Facilitator Rank.
LENEMAR is inactive again.
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by cheekylengers March 27, 2022
Get the cheeky lengers mug.The product of a noted evolutionary conglomoration of three beings into one due mostly to excessive co-dependence and poorly executed CRT(read: College to Reality Transition). Lenielle is not a fictional character but can actually be spotted out in the wild, usually, however, in bars, on the weekends. The breakdown is as follows; Lori (L) Jennifer (en) Danielle (ielle) and one must take note that when refering to only one-third of "Lenielle" that particular third must be verbally emphasized.
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by Jaci February 28, 2005
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