ACCOUNTING FOR LEASES
ACCOUNTING FOR LEASES

Summary/Abstract: The leasing operations, representing an alternative for the financing of the companies, must carry on in a legal framework and must be accompanied by appropriate accounting treatment. From the accounting point of view, the treatment of leasing contracts is based on accounting national standards and, at the same time, on professional judgement. As for the accounting national standards, we note that both completions of the standards, put in agreement with the European directives and applied since January 1st, 2006, contain stipulations with respect to recognition and accounting treatment of leasing operations. Furthermore, the latest completion introduces a new specification in the area of applying the principle of prevalence of the economics over legal and professional judgement: the lease-back operations.

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