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Lease - The conveyance, by a lessor to a lessee, of the right to use a tangible asset, usually for a specified period of time in return for rent.
Operating Lease - A lease in which the lessor does not transfer substantially all the benefits and risks incident to ownership of property.
Capital Lease - A lease that, from the point of view of the lessee, transfers substantially all the benefits and risks incident to ownership of property to the lessee.
Applying financial reporting standards can be quite complex. The BDO team can help you assess your situation and prepare for the opportunities and challenges involved.