04 December 2007
we moved on to our new office very recently. all the furniture and fixtures were got new and we opted for a lease for the payment of these. Thru the Lease arrangement we are required to pay a monthly lease rental to the funder.Will it be ok for us to treat such a lease as an operating lease in the books.We dont intend to possess the assets after the expiry of the lease term...Please advice..
CAclubindia
