Describe accounting for leases and pensions.

Q: Discuss how the lease liability would be measured at lease inception.

A: Lease Liability is the present value of the financial obligation of the lease for the lease…

Q: many

A: A lease is a contractual agreement between two parties wherein the lessor (owner) provides the right…

Q: Describe the accounting and reporting for special features of lease arrangements.

A: Special features of lease arrangements: - Residual type - Sale type leases - Bargain purchase option…

Q: Determine Lease Revenue?

A: Lease: Leases are agreements in which the proprietor of the asset permits another party to utilize…

Q: Define the term Lease Expense.

A: Lease: It can be defined as a contract that specifies the terms within which one party (lessor)…

Q: compare the disclosures relating to fi nance and operating leases;

A: The IAS 17 defines the disclosures required by operating and financing lease and the accounting…

Q: Explain the accounting for operating leases.

A: The accounting for an operating lease assumes that the lessor owns the leased asset, and the lessee…

Q: Define bond insurance

A: Bond Insurance is also known as financial guarantee insurance. As the name suggests, it means that…

Q: Describe how to record lease expense.

A: A lease for capital is a lease where the lessee recognizes the underlying asset as if it acquires…

Q: Describe the Investments in Life Insurance Policies.

A: Life Insurance policies are to provide financial support to the beneficiaries and dependents after…

Q: Describe the accounting procedures involved in applying the operating lease method by a lessee.

A: Operational lease method: A process of using the asset for a rental payable in instalments or in…

Q: Outline the accounting procedures involved in applying the operating lease method by a lessee.

A: Operational lease method: A process of using the asset for a rental payable in installments ir in…

Q: Define Pension plan assets.

A: Payroll: Payroll refers to the total amount that is required to be paid by the company to its…