Swiss GAAP FER 13
–Leases

Description

Swiss GAAP FER 13 “Leases” regulates the representation of leasing agreements of the lessee. A lease agreement can either be a finance lease or an operating lease. Finance leases are evaluated in terms of the economic approach, taking into account four criteria in the recommendation. Finance leases have to be capitalised and separately presented. Operating leases are not capitalised but have to be disclosed in the notes if the commitments cannot be cancelled within a year. A profit resulting from the disposal of tangible fixed assets with a subsequent finance lease (sale-and-leaseback) has to be recognised as deferred income in the financial statements and released over the duration of the lease contract. A loss resulting from the disposal of tangible fixed assets with a subsequent finance lease (sale-and-leaseback) has to be immediately charged in full to the result of the period.

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