Asset Leasing Overview
Asset Leasing Process
Asset Leasing Posting
| Accounting Standard | Lease Transition | Lease Classification | Debit | Credit |
|---|---|---|---|---|
| US GAAP | Operating | Initial Recognition | ROU Asset | Lease Liability |
| US GAAP | Operating | Interest Expense | Lease Expense | Lease Liability |
| US GAAP | Operating | Lease Payment | Lease Liability | Payment Clearing |
| US GAAP | Operating | Depreciation | Lease Expense | Depreciation |
| US GAAP | Finance | Initial Recognition | ROU Asset | Lease Liability |
| US GAAP | Finance | Interest Expense | Lease Expense | Lease Liability |
| US GAAP | Finance | Lease Payment | Lease Liability | Payment Clearing |
| US GAAP | Finance | Depreciation | Depreciation Expense | Depreciation |
| US GAAP | Short Term / Low Value | Lease Payment | Lease Expense | Payment Clearing |
Accounting Standard Lease Transition Lease Classification Debit Credit IFRS Finance Initial Recognition ROU Asset Lease Liability IFRS Finance Interest Expense Lease Expense Lease Liability IFRS Finance Lease Payment Lease Liability Payment Clearing IFRS Finance Depreciation Depreciation Expense Depreciation IFRS Short Term / Low Value Lease Payment Lease Expense Payment Clearing