Lease of Lands
28 July 2010
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Is it possible alocate lease of land (reforestation) as a finance lease?
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In accordance with IAS 17, land leases are generally accounted for as operating leases unless their is a transfer of title or a bargain purchase option. The reason is that land has an indefinite life; therefore, the lessee normally does not receive substantially all of the risks and rewards of the asset [land].
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