Common Contracts
1 similar Sale and Leaseback Agreement contracts
Sale and leaseback example ias 17Sale and Leaseback Agreement • July 30th, 2021
AS-19 deals with the accounting policies applicable for all types of leases except certain listed below. A lease is a transaction whereby an agreement is entered into by the lessor with the lessee for the right to use an asset by the lessee in return for a payment or series of payments for an agreed period of time. This Standard is not applicable to: (a) Lease agreements for exploring or using natural resource. Ex Oil, gas, timber, metals and other mineral rights (b) Licensing agreements. Ex Motion picture films, video recordings, plays, manuscripts, patents and copyrights (c) Lease agreements for use land There are two types of leases: 1. Finance Lease 2. Operating Lease Finance Lease A lease in which all risks and rewards are transferred to the owner of assets. The title may or may not eventually be transferred. Examples of Finance Lease are: 1. Lease in which Assets is transferred to lessee at the end of lease term 2. Lease term in which lessee has the option to purchase the assets
