Accounting for Finance Lease: Lessee's Perspective Example. CPA Exam

In this session, I discuss avvounting for a finance lease from a lessee's perspective including example and journal entries.
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[@trumnq]

Thanks for the explanation. It's very useful. I just link the IAS 40 and IFRS 16, and I am wondering whether the ROU asset can be revalued under fair value model or no? For example, the land lease from Industrial park with annual lease payment.

[@prapspartner5968]

Did we add the cost of transporting the asset to the right use of asset?

[@ariannashahin1995]

What happens if you meet more than one of the tests for determining the life to amortize over?

[@LubabaMaha-A]

Sir pls help me....how to prepare lessor balance sheet and lessee income statement

[@mohdsaafin1411]

Sir

[@LubabaMaha-A]

Pls anyone help me...what will be the journal entry for yr 2025...??