Frs Finance Lease
IFRS Finance Lease: An Overview
An IFRS finance lease, under International Financial Reporting Standards (IFRS), is a lease that transfers substantially all the risks and rewards incidental to ownership of an asset to the lessee. It’s essentially a method of financing the purchase of an asset, rather than a simple rental agreement. The substance of the transaction is a purchase of the asset by the lessee, with the lessor providing the financing.