Dear friends,
I have queries relating to impairment of leased assets. For a lease finance company where it is a lessor and finances leases of various types of assets, whether AS28 is applicable or not?? specifically in case of operting lease.
Whether it has to account for impairment of leased assets that are with other leasees? specifically in case of operating lease.
Please help me out.
Regards
Suraj
Leased assets with lessee need to be considered for impairment under As 28 of ICAI.
It means lessor need not consider impairment of asset in his book even if he is real owner in case of Operating lease.
But Sir, Under Treatment in the books of lessor as per AS 19, Para 44 speaks about impairment of asset for lessor.... then? Lessor, being actual owner in case of operating lease, should take into account the impairment of asset leased by him.
Please clarify.
Shyam Joshi & Associates
Pune
B.Com
View Details
CAclubindia
