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Accounting for leased equipment

Posted by pcorralejo on 07/09/2008 - 12:38

How is leased equipment accounted for? This is a long term lease with monthly installment payments. How is leased equipment depreciaited (over the life of the lease or the life of the asset)?

Pearl Corralejo

  • 1402 reads


Depends

Depends on whether it must be characterized as a capital or operating lease.

Jim Q., CA

Posted by jwquinlan on 07/10/2008 - 16:25
  • 1 read
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Amidst a certain amount of controversy, the AICPA and the Chartered Institute of Management Accountants have launched a new designation for global management accountants, the CGMA (Chartered Global Management Accountant). The designation is available to members of both organizations.
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