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How to Record Fixed Assets - Printable Version

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How to Record Fixed Assets - Omeir - 01-06-2011

Can anyone please guide me in light of IAS, how to record assets purchased through ijarah?

- Salmancert - 01-08-2011

Ijarah? isn't it lease in Islamic Banking

The Treatment is same as for Leased Assets under IAS 17 Leases and IAS 16 PPE. If you need further details please post.

- aamalik - 01-09-2011

Yeah... Now depend whether finance or operating lease

Asset Subject to Lease
To Lease Liablity

will be the accounting entry in case of former

- Omeir - 01-10-2011

@ Salaman,

If you can, please explain what would be the accounting entry for recording such asset?

- Rithika - 02-16-2011

Fixed assets is the long term asset. Depreciation would be the better method that allows the firm to spread the cost of the fixed asset. If it's under a lease then you're ought to care on the assets.