Bilanzierung Bei Finance Leasing

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Accounting for Finance Leases

Finance leases, also known as capital leases, are leases that effectively transfer substantially all the risks and rewards of ownership of an asset to the lessee. Consequently, the accounting treatment differs significantly from that of operating leases.

Lessee Accounting

For the lessee, a finance lease is recognized on the balance sheet as both an asset and a liability. This reflects the economic substance of the transaction, where the lessee is effectively acquiring the right to use the asset and incurring an obligation to pay for it.

Initial Recognition: The lessee recognizes the asset and the lease liability at the commencement of the lease term. The amounts recorded are typically the lower of the asset’s fair value and the present value of the minimum lease payments. The present value is calculated using the interest rate implicit in the lease. If the implicit rate cannot be readily determined, the lessee’s incremental borrowing rate is used.

Subsequent Measurement: The leased asset is depreciated over its useful life or the lease term, whichever is shorter, if there is no reasonable certainty that the lessee will obtain ownership by the end of the lease term. The lease liability is amortized over the lease term, with each lease payment being split into two components: a reduction of the lease liability and an interest expense. The interest expense is recognized in the income statement over the lease term, often using the effective interest method. This results in a higher interest expense in the earlier years of the lease and a lower expense in the later years.

Example: Assume a company leases equipment with a fair value of $100,000. The lease term is 5 years, with annual payments of $26,380 and an implicit interest rate of 8%. The lessee would recognize an asset and a liability of $100,000 initially. Each year, a portion of the $26,380 payment would be allocated to interest expense and the remainder would reduce the lease liability. The leased equipment would be depreciated over its useful life (or the lease term, if shorter).

Lessor Accounting

For the lessor, a finance lease is treated as a sale of the asset. The lessor removes the asset from its balance sheet and recognizes a lease receivable, representing the present value of the lease payments. The lessor also recognizes a profit or loss on the sale, which is the difference between the carrying amount of the asset and the present value of the lease receivable.

Initial Recognition: The lessor derecognizes the leased asset and recognizes a lease receivable at an amount equal to the net investment in the lease. This includes the present value of the minimum lease payments and any unguaranteed residual value.

Subsequent Measurement: The lease receivable is amortized over the lease term, with each lease payment being split into two components: a reduction of the lease receivable and interest income. The interest income is recognized in the income statement over the lease term, again using the effective interest method.

Key Considerations: Accurate classification of a lease as either finance or operating is crucial. Misclassification can significantly impact a company’s financial statements, affecting key ratios and potentially influencing investor perceptions. Judgment is often required in assessing whether a lease transfers substantially all the risks and rewards of ownership. Common indicators of a finance lease include transfer of ownership at the end of the lease term, bargain purchase option, lease term covering the major part of the asset’s economic life, and present value of lease payments equaling substantially all of the asset’s fair value.