Leases accounting
This query is : Resolved
04 December 2007
we moved on to our new office very recently. all the furniture and fixtures were got new and we opted for a lease for the payment of these. Thru the Lease arrangement we are required to pay a monthly lease rental to the funder.Will it be ok for us to treat such a lease as an operating lease in the books.We dont intend to possess the assets after the expiry of the lease term...Please advice..
S.Srinivasaraghavan
(Expert)
26 February 2008
The lease rental are expenditure allowable
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