This article discusses accounting for finance leases by the manufacturer or dealer lessor and impairment loss calculation in corporate accounting and reporting. It covers the requirements for lessor accounting as per AASB 117 on leases, recognition of assets held under finance lease, recognition of loss or profit arising from sales, and disclosure requirements for leasing activities. The article also includes journal entries for impairment loss calculation.

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Corporate Accounting and Reporting - Desklib

Corporate Accounting and Reporting

This document explains the principles of measurement, recognition, presentation and disclosures for leases and impairment loss measurement. It discusses the impact of lease on cash flow, financial position and financial performance of the company. The document also includes journal entries in the books of Gali Ltd as at 30th June 2015.

The information provides the basis that can be used by the users of financial reports for assessing the impact that the lease has on cash flow, financial position and financial performance of the company (Aasb.gov.au 2019). Situation that leads the lease to be classified as the finance lease are – (i) ownership of underlying lease asset is transferred to lessee by closing of the lease term (ii) terms of lease is for maximum proportion of the asset’s economic life even if title of the

Principles for measurement, recognition, presentation and disclosures for finance leases AASB 16

This article explains the accounting of financial lease under AASB 117 in Corporate Accounting and Reporting. It covers the key terms, sources of income, initial recognition, subsequent measurement, and disclosures. The article also provides journal entries for recording transactions in the books of lessee and lessor.

Accounting of Financial Lease - Corporate Accounting and Reporting

This article discusses the accounting treatment of financial lease for dealers and manufacturers under AASB 117. It covers the initial recognition, subsequent measurement, and disclosures required for financial leases. The article explains the difference between financial and operating leases, and key terms such as economic life, guaranteed residual value, unguaranteed residual value, gross investment, and net investment. The journal entries for lessor and lessee are also provided.

Corporate Accounting and Reporting

Corporate Accounting and Reporting

Principles for measurement, recognition, presentation and disclosures for finance leases AASB 16

Accounting of Financial Lease - Corporate Accounting and Reporting

Accounting Treatment of Financial Lease for Dealers and Manufacturers

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Corporate Accounting and Reporting

Corporate Accounting and Reportinglg...

Principles for measurement, recognition, presentation and disclosures for finance leases AASB 16lg...

Accounting of Financial Lease - Corporate Accounting and Reportinglg...

Accounting Treatment of Financial Lease for Dealers and Manufacturerslg...

Accounting and Financial Statements Essaylg...

Assignment on Financial Reporting and Analysislg...

Corporate Accounting and Reporting

Principles for measurement, recognition, presentation and disclosures for finance leases AASB 16

Accounting of Financial Lease - Corporate Accounting and Reporting

Accounting Treatment of Financial Lease for Dealers and Manufacturers

Accounting and Financial Statements Essay

Assignment on Financial Reporting and Analysis