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Lease accounting
Understanding Lease Accounting Disclosure Criteria
December 10, 2023
What are the disclosure requirements for leases in financial statements?
Lease accounting mandates disclosures for both operating and finance leases. Companies must outline lease commitments, future lease payments, lease terms, and the nature of leased assets. Under standards like ASC 842 or IFRS 16, disclosures differentiate between finance and operating leases, impacting balance sheets and income statements.
Tags : Lease Accounting , Disclosure Requirements , Financial Statements