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Lease


A contract in which an owner of property/ usable asset (a lessor) places it at the disposal of another party (a lessee) in exchange for a consideration (rental) over a specific period (lease term). The lessee uses the property/ asset in accordance with the terms and conditions set out in the contract. Typically, rental is paid out in installment over the lease term. However, lump-sum payment of rentals for the entire term of lease is also possible.

From an accounting perspective, the most common types of leases are: operating lease and financing lease.



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Accounting is the language of business, everywhere, worldwide. It is the means by which virtually every business communicates information about its operations, irrespective of size, scale, objectives, ...
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