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As-19
AS-19 if Life of assest is 8year and rental aggrement is 5 year & also Present value of rental amount is more than fair value of assest whether it is financial lease or not?
Replies (4)
Yes this is financial lease.....
Where the lease period covers substantial life of asset and present value of lease rental is equal to or more than fair value of asset, the lease will be Finance lease.
No need to check whether ownership tranfer or not at end of lease period?
advance from debtor in foreign currency is monetary item or not? whether such advance restated in balance sheet date?
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