Home  Journals  International Accounting  13(211) - 2012 April

The harmonization of accounting practices of leasing operations with the requirements of IFRS (an example of the Republic of Armenia)

Available online: 2 April 2012

Subject Heading: Foreign experience

JEL Classification: 

The question of transformation of standards of accounting system in the Republic of Armenia in the International Financial Reporting Standard (IFRS) is considered. The offered model of accounting gives the chance to recognize financial rent as assets and obligations in the balance sheet in the sums equal to fair value of rented property. New accounts and the accounting transactions, allowing financial payments to distribute on the periods during rent term so that the constant periodic rate of percent on remaining balance of the obligation are recommended.

Keywords: IFRS, leasing operations, Republic of Armenia, finance lease, balance sheet, accounting entries

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ISSN 2311-9381 (Online)
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