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Hello, I am looking for someone to write an essay on General Fund and Leasing in Government Accounting. It needs to be at least 500 words.In the case of an operating lease the lessee is regarded to be
Hello, I am looking for someone to write an essay on General Fund and Leasing in Government Accounting. It needs to be at least 500 words.
In the case of an operating lease the lessee is regarded to be the one renting the property hence all the lease payments are regarded as rent expenses (Fischer et. al, 2008). Under capital lease, ownership is usually transferred to lessee at the end of a lease term and they are further responsible for the insurance as well as repair and maintenance of the property. On the other hand, ownership of the leased property is usually retained by the owning firm at the end of the lease term. The term of the lease under capital lease usually equals or exceeds 75% of the useful life of an asset as estimated while under an operating lease, the term of the lease is normally less than 75% of the useful life of an asset (Fischer et. al,
