{"id":871,"date":"2025-06-23T06:31:50","date_gmt":"2025-06-23T06:31:50","guid":{"rendered":"https:\/\/finskillbox.com\/?page_id=871"},"modified":"2025-08-02T12:10:22","modified_gmt":"2025-08-02T09:10:22","slug":"leasing-part-2","status":"publish","type":"page","link":"https:\/\/finskillbox.com\/en\/materials\/free-download\/leasing\/leasing-part-2\/","title":{"rendered":"Accouting and taxation of leasing contracts Part 2"},"content":{"rendered":"<div class=\"row align-center\"  id=\"row-1409118115\">\n\n\t<div id=\"col-1091753871\" class=\"col medium-8 small-12 large-8\"  >\n\t\t\t\t<div class=\"col-inner text-center\"  >\n\t\t\t\n\t\t\t\n\t<div id=\"gap-12407190\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-12407190 {\n  padding-top: 50px;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"text-2814806199\" class=\"text\">\n\t\t\n<h1>ACCOUNTING AND TAXATION OF LEASING CONTRACTS<\/h1>\nPART 2\n\t\t\n<style>\n#text-2814806199 {\n  font-size: 1.2rem;\n  text-align: center;\n}\n<\/style>\n\t<\/div>\n\t\n\n<a href=\"https:\/\/finskillbox.com\/wp-content\/uploads\/2025\/06\/LEASING-CONTRACT-Part-2.pdf\" target=\"_blank\" class=\"button primary is-outline\" rel=\"noopener\" style=\"border-radius:10px;\">\n\t\t<span>Download file<\/span>\n\t<\/a>\n\n\n\t<div id=\"text-1178479637\" class=\"text\">\n\t\t\n<p>Covaliov Georgeta,<\/p>\n<p>auditor, CIPA<br \/>\n\t\t\n<style>\n#text-1178479637 {\n  font-size: 1.2rem;\n  line-height: 0.75;\n  text-align: right;\n}\n<\/style>\n\t<\/div>\n\t\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n\t<div id=\"col-899841962\" class=\"col small-12 large-12\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\t<div id=\"text-2064126105\" class=\"text\">\n\t\t\n\n<h2 style=\"text-align: center;\"><span style=\"color: #ed1c24;\"><strong>LEASING<\/strong> <strong>ACCOUNTING<\/strong> <strong>ACCORDING<\/strong> <strong>TO<\/strong> <strong>NATIONAL<\/strong> <strong>REGULATIONS<\/strong><\/span><\/h2>\n<p><strong>&#8220;<span style=\"color: #ed1c24;\">Leasing<\/span><\/strong> <strong><span style=\"color: #ed1c24;\">contracts<\/span>&#8220;,<\/strong> the objective of this standard is to establish the way of accounting for leasing operations and presenting the related information in the financial statements of lessees and lessors.<\/p>\n<p>In this standard, the concepts used mean:<\/p>\n<p><span style=\"color: #ed1c24;\"><strong>Leasing<\/strong> <strong>contract<\/strong><\/span> <strong>\u2013 <\/strong>contract according to which the lessor assigns to the lessee, in exchange for a payment or series of payments, the right to use the asset for an agreed period of time. For the purposes of this standard, the concept of leasing also includes renting, leasing (renting).<\/p>\n<p><span style=\"color: #ed1c24;\"><strong>Financial<\/strong> <strong>leasing<\/strong> <strong>contract<\/strong><\/span> \u2013 leasing contract in which the preponderant part of the risks and benefits related to the holding of the leased asset passes from the lessor to the lessee.<\/p>\n<p><span style=\"color: #ed1c24;\"><strong>Operational<\/strong> <strong>leasing<\/strong> <strong>contract<\/strong><\/span> <strong>\u2013 <\/strong>any leasing contract that does not represent a financial leasing contract.<\/p>\n<p><span style=\"color: #ed1c24;\"><strong>Contingent<\/strong> <strong>rent<\/strong><\/span> <strong>\u2013 <\/strong>a part of the leasing payments that are not fixed in the leasing contract in a determined amount but are established on the basis of other indicators (for example, a percentage of their volume).<\/p>\n<p><span style=\"color: #ed1c24;\"><strong>Useful<\/strong> <strong>life<\/strong><\/span> <strong>\u2013 <\/strong>the estimated (likely) life of use of the asset that remains from the beginning of the lease term, but is not limited to that term, during which the entity expects the benefits to be obtained from the use of the asset.<\/p>\n<p><span style=\"color: #ed1c24;\"><strong>Minimum<\/strong> <strong>leasing<\/strong> <strong>payments<\/strong><\/span> <strong>\u2013 <\/strong>payments (installments) made by the lessee during the lease contract, which include: the principal (the redeemable value of the leased asset), the leasing interest, the guaranteed residual value. The minimum leasing payments do not include: contingent rent, taxes, insurance payments, repair, maintenance and other expenses related to the leased asset, the unsecured residual value.<\/p>\n<p><span style=\"color: #ed1c24;\"><strong>Principal<\/strong> <strong>(redeemable<\/strong> <strong>value)<\/strong> <\/span><strong>\u2013 <\/strong>the value of the leased asset to be repaid to the lessor during the lease term and does not include the leasing interest.<\/p>\n<p><span style=\"color: #ed1c24;\"><strong>Fair<\/strong> <strong>value<\/strong><\/span> <strong>\u2013 <\/strong>the amount by which the asset could be exchanged voluntarily in a normal transaction between interested, independent and well-informed parties.<\/p>\n<p><span style=\"color: #ed1c24;\"><strong>Guaranteed<\/strong> <strong>residual<\/strong> <strong>value<\/strong> <\/span><strong>\u2013 <\/strong>a part of the residual value of the leased asset, the recovery of which is guaranteed to the lessor.<\/p>\n\n\t\t\n<style>\n#text-2064126105 {\n  font-size: 1.1rem;\n}\n<\/style>\n\t<\/div>\n\t\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n<\/div>\n<p><!--nextpage--><\/p>\n<div class=\"row align-center\"  id=\"row-1333530496\">\n\n\t<div id=\"col-256114635\" class=\"col medium-8 small-12 large-8\"  >\n\t\t\t\t<div class=\"col-inner text-center\"  >\n\t\t\t\n\t\t\t\n\t<div id=\"gap-127968516\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-127968516 {\n  padding-top: 50px;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"text-408643936\" class=\"text\">\n\t\t\n<h1>ACCOUNTING AND TAXATION OF LEASING CONTRACTS<\/h1>\nPART 2\n\t\t\n<style>\n#text-408643936 {\n  font-size: 1.2rem;\n  text-align: center;\n}\n<\/style>\n\t<\/div>\n\t\n\n<a href=\"https:\/\/finskillbox.com\/wp-content\/uploads\/2025\/06\/LEASING-CONTRACT-Part-2.pdf\" class=\"button primary is-outline\" style=\"border-radius:10px;\">\n\t\t<span>Download file<\/span>\n\t<\/a>\n\n\n\t<div id=\"text-3310959170\" class=\"text\">\n\t\t\n<p>Covaliov Georgeta,<\/p>\n<p>auditor, CIPA<br \/>\n\t\t\n<style>\n#text-3310959170 {\n  font-size: 1.2rem;\n  line-height: 0.75;\n  text-align: right;\n}\n<\/style>\n\t<\/div>\n\t\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n\t<div id=\"col-1162344143\" class=\"col small-12 large-12\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\t<div id=\"text-2228948250\" class=\"text\">\n\t\t\n\n<h2 style=\"text-align: center;\"><span style=\"color: #ed1c24;\"><strong>LEASING<\/strong> <strong>ACCOUNTING<\/strong> <strong>ACCORDING<\/strong> <strong>TO<\/strong> <strong>NATIONAL<\/strong> <strong>REGULATIONS<\/strong><\/span><\/h2>\n<p><strong><em>T<\/em><\/strong><strong><em>he<\/em><\/strong> <strong><em>osset<\/em><\/strong> <strong><em>received<\/em><\/strong> <strong><em>iu<\/em><\/strong> <strong><em>fiuouciol<\/em><\/strong> <strong><em>leosiug<\/em><\/strong> <strong><em>is<\/em><\/strong> <strong><em>volued<\/em><\/strong> <strong><em>ot<\/em><\/strong> <strong><em>the<\/em><\/strong> <strong><em>cost<\/em><\/strong> <strong><em>of<\/em><\/strong> <strong><em>eutr\u00e7<\/em><\/strong> <strong><em>which<\/em><\/strong> <strong><em>iucludes<\/em><\/strong><strong><em>:<\/em><\/strong><\/p>\n<ol>\n<li>principal (redeemable value of the asset);<\/li>\n<li>guaranteed residual value;<\/li>\n<li>costs directly attributable to the receipt of the leased asset (e.g. costs related to the conclusion of the leasing contract, transport, road insurance, preparation of the asset for the predetermined use), which according to the conditions of the contract are borne by the lessee.<\/li>\n<\/ol>\n<p><strong>Pct.14<\/strong> The insurance premium related to the leased asset (except for the cost of road insurance), which according to the conditions of the contract is borne by the lessee, is attributed to current costs\/expenses depending on the destination and place of use of the respective object. If the insurance costs exceed the predetermined materiality threshold and refer to two or more management periods, they can be accounted for as anticipated expenses with subsequent settlement of costs and\/or current expenses in the manner provided by the lessee&#8217;s accounting policies.<\/p>\n<p>According to the provisions of item 6 of the SNC &#8220;Leasing contracts&#8221;, depending on the degree<\/p>\n<p>of distribution between the lessor and the lessee of the risks and benefits related to the holding<\/p>\n<p>of the leased assets, two types of leasing are delimited: financial and operational.<\/p>\n<p>Are all the risks and rewards (including economic ownership) inherent in the leased object (and not the ownership right) essentially transferred from the lessor to the lessee?<\/p>\n<ul>\n<li><strong>YES<\/strong> = Financial leasing contract;<\/li>\n<li><strong>NO<\/strong> = Operational leasing contract<\/li>\n<\/ul>\n<p>The\u00a0 type\u00a0 of\u00a0 leasing\u00a0 is\u00a0 established\u00a0 at\u00a0 the\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 beginning of\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 the leasing term\u00a0 based on the contractual conditions and must be identical for the lessee and lessor. If the leasing contract does not contain any condition indicated in item 8 of this standard, the leasing contract shall be considered operational.<\/p>\n\n\t\t\n<style>\n#text-2228948250 {\n  font-size: 1.1rem;\n}\n<\/style>\n\t<\/div>\n\t\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n<\/div>\n<p><!--nextpage--><\/p>\n<div class=\"row align-center\"  id=\"row-429884879\">\n\n\t<div id=\"col-900766293\" class=\"col medium-8 small-12 large-8\"  >\n\t\t\t\t<div class=\"col-inner text-center\"  >\n\t\t\t\n\t\t\t\n\t<div id=\"gap-792464566\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-792464566 {\n  padding-top: 50px;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"text-582274833\" class=\"text\">\n\t\t\n<h1>ACCOUNTING AND TAXATION OF LEASING CONTRACTS<\/h1>\nPART 2\n\t\t\n<style>\n#text-582274833 {\n  font-size: 1.2rem;\n  text-align: center;\n}\n<\/style>\n\t<\/div>\n\t\n\n<a href=\"https:\/\/finskillbox.com\/wp-content\/uploads\/2025\/06\/LEASING-CONTRACT-Part-2.pdf\" class=\"button primary is-outline\" style=\"border-radius:10px;\">\n\t\t<span>Download file<\/span>\n\t<\/a>\n\n\n\t<div id=\"text-2094764320\" class=\"text\">\n\t\t\n<p>Covaliov Georgeta,<\/p>\n<p>auditor, CIPA<br \/>\n\t\t\n<style>\n#text-2094764320 {\n  font-size: 1.2rem;\n  line-height: 0.75;\n  text-align: right;\n}\n<\/style>\n\t<\/div>\n\t\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n\t<div id=\"col-407990621\" class=\"col small-12 large-12\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\t<div id=\"text-1150779978\" class=\"text\">\n\t\t\n\n<h2 style=\"text-align: center;\"><span style=\"color: #ed1c24;\"><strong>LEASING<\/strong> <strong>ACCOUNTING<\/strong> <strong>ACCORDING<\/strong> <strong>TO<\/strong> <strong>NATIONAL<\/strong> <strong>REGULATIONS<\/strong><\/span><\/h2>\n<p><strong>Accounting of the operating lease at the lessor<em>.<\/em><\/strong><\/p>\n<p>The assets transferred in operational leasing are reflected in the lessor&#8217;s balance sheet. The NAS &#8220;Leasing contracts&#8221;, item 44 provides that the initial direct costs, directly related to the negotiation and conclusion of the operational leasing contract (for example, commissions for searching for the lessee, valuation services, legal) that according to the conditions of the contract are borne by the lessor, are recorded as current expenses. If these costs exceed the predetermined materiality threshold and refer to two or more management periods, they may be accounted for as anticipated expenses with subsequent settlement within the lease term at current costs and\/or expenses in the manner provided by the lessor&#8217;s accounting policies.<\/p>\n<p>According to item 45 of the standard, operational leasing payments received or receivable according to the contractual conditions are recognized as current income during the lease term according to accrual accounting on a systematic basis provided in the lessor&#8217;s accounting policies.<\/p>\n<p>The depreciation of assets transferred in operational leasing is calculated by the lessor in accordance with the requirements of the NCS &#8220;Intangible and tangible assets&#8221; by the method accepted in the accounting policies and not necessarily by the methods applied for own fixed assets. The costs related to the return of leased assets incurred by the lessor are recorded as current and\/or anticipated expenses, depending on the materiality threshold predetermined in the accounting policies.<\/p>\n<ul>\n<li>In the case of operational leasing, the lessor performs the following operations:<\/li>\n<li>accounts for\u00a0 the\u00a0 assets\u00a0 transferred\u00a0 in\u00a0 operational\u00a0 leasing\u00a0 in\u00a0 the\u00a0 financial\u00a0 accounting accounts;<\/li>\n<li>calculates the depreciation of leased assets both in financial accounting and for tax purposes;<\/li>\n<li>ascertains the leasing payment as operating income as it is calculated;<\/li>\n<li>bears the\u00a0 costs of repair and modernization of\u00a0 the leased\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 assets (unless otherwise stipulated in the contract);<\/li>\n<li>records as income (expenses) the penalties calculated for the violation of the conditions of the operational leasing contract;<\/li>\n<li>receives from the lessee the leased assets after the expiry of the lease term or upon cancellation of the operational lease contract.<\/li>\n<\/ul>\n\n\t\t\n<style>\n#text-1150779978 {\n  font-size: 1.1rem;\n}\n<\/style>\n\t<\/div>\n\t\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n<\/div>\n<p><!--nextpage--><\/p>\n<div class=\"row align-center\"  id=\"row-1045241460\">\n\n\t<div id=\"col-287271836\" class=\"col medium-8 small-12 large-8\"  >\n\t\t\t\t<div class=\"col-inner text-center\"  >\n\t\t\t\n\t\t\t\n\t<div id=\"gap-852667449\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-852667449 {\n  padding-top: 50px;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"text-3002482791\" class=\"text\">\n\t\t\n<h1>ACCOUNTING AND TAXATION OF LEASING CONTRACTS<\/h1>\nPART 2\n\t\t\n<style>\n#text-3002482791 {\n  font-size: 1.2rem;\n  text-align: center;\n}\n<\/style>\n\t<\/div>\n\t\n\n<a href=\"https:\/\/finskillbox.com\/wp-content\/uploads\/2025\/06\/LEASING-CONTRACT-Part-2.pdf\" class=\"button primary is-outline\" style=\"border-radius:10px;\">\n\t\t<span>Download file<\/span>\n\t<\/a>\n\n\n\t<div id=\"text-2044147647\" class=\"text\">\n\t\t\n<p>Covaliov Georgeta,<\/p>\n<p>auditor, CIPA<br \/>\n\t\t\n<style>\n#text-2044147647 {\n  font-size: 1.2rem;\n  line-height: 0.75;\n  text-align: right;\n}\n<\/style>\n\t<\/div>\n\t\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n\t<div id=\"col-1399150793\" class=\"col small-12 large-12\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\t<div id=\"text-2966283993\" class=\"text\">\n\t\t\n\n<h2 style=\"text-align: center;\"><span style=\"color: #ed1c24;\"><strong>LEASING<\/strong> <strong>ACCOUNTING<\/strong> <strong>ACCORDING<\/strong> <strong>TO<\/strong> <strong>NATIONAL<\/strong> <strong>REGULATIONS<\/strong><\/span><\/h2>\n<p><strong>Accounting of the operating lease to the lessee<\/strong><\/p>\n<p>The assets received in operational leasing are reflected by the lessee in the off-balance sheet accounts at the value agreed by the parties in the leasing contract (item 26).<\/p>\n<p>The direct costs related to the entry (return) of the leased asset and the maintenance costs, which according to the terms of the contract are borne by the lessee, are recorded as current costs or expenses depending on the destination and place of use of the respective asset.<\/p>\n<p>If these costs exceed the predetermined materiality threshold and refer to two or more management periods, they can be reflected in the composition of the anticipated expenses with the subsequent settlement of current expenses in the manner provided by the lessee&#8217;s accounting policy (item 27).<\/p>\n<ul>\n<li>Lease payments are attributed to current costs or expenses depending on the destination and place of use of the leased asset according to accrual accounting on a systematic basis reflecting the benefits from the use of the asset over the lease<\/li>\n<li>In the case of the operational leasig, the lessee performs the following operations:<\/li>\n<li>records the assets received in the operational leasig in off-balance sheet accounts at the value provided in the operational leasig contract;<\/li>\n<li>ascertains the payment of rent as consumption or expenses, depending on the destination and place of use of the leased assets;<\/li>\n<li>bears the expenses related to the maintenance of the leased assets (unless the contract provides otherwise);<\/li>\n<li>reflects as expenses (revenues) the penalties calculated for the violation of the conditions of the operational leasing contract.<\/li>\n<\/ul>\n<p><span style=\"color: #00a859;\"><strong><em>Sxomple<\/em><\/strong> <strong><em>J.<\/em><\/strong><\/span> In May 201X, entity &#8220;A&#8221; transferred a truck to entity &#8220;B&#8221; on an operational lease for a period of 2 years.<\/p>\n<p>According to the leasing contract, the guaranteed residual value is 320 000 lei. The entry cost of the truck is 1 265 000 lei, the residual value \u2013 65 000 lei.<\/p>\n<p>The depreciation is calculated by the linear method according to the annual norm of 10%. The monthly leasing payments amount to 18 000 lei, including VAT.<\/p>\n<p>The truck is used for the purpose of distributing products.<\/p>\n<p>To prepare the accounting formulas and calculations related to the leasing of the truck to the lessee and lessor.<\/p>\n<p style=\"text-align: center;\">Accounting records regarding operating leasing according to NAS<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-1017 size-full aligncenter\" src=\"https:\/\/finskillbox.com\/wp-content\/uploads\/2025\/06\/Table-1-3.png\" alt=\"Table 1\" width=\"1002\" height=\"412\" srcset=\"https:\/\/finskillbox.com\/wp-content\/uploads\/2025\/06\/Table-1-3.png 1002w, https:\/\/finskillbox.com\/wp-content\/uploads\/2025\/06\/Table-1-3-300x123.png 300w, https:\/\/finskillbox.com\/wp-content\/uploads\/2025\/06\/Table-1-3-600x247.png 600w, https:\/\/finskillbox.com\/wp-content\/uploads\/2025\/06\/Table-1-3-768x316.png 768w\" sizes=\"auto, (max-width: 1002px) 100vw, 1002px\" \/><\/p>\n\n\t\t\n<style>\n#text-2966283993 {\n  font-size: 1.1rem;\n}\n<\/style>\n\t<\/div>\n\t\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n<\/div>\n<p><!--nextpage--><\/p>\n<div class=\"row align-center\"  id=\"row-1838009894\">\n\n\t<div id=\"col-1793542281\" class=\"col medium-8 small-12 large-8\"  >\n\t\t\t\t<div class=\"col-inner text-center\"  >\n\t\t\t\n\t\t\t\n\t<div id=\"gap-58534283\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-58534283 {\n  padding-top: 50px;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"text-3786713776\" class=\"text\">\n\t\t\n<h1>ACCOUNTING AND TAXATION OF LEASING CONTRACTS<\/h1>\nPART 2\n\t\t\n<style>\n#text-3786713776 {\n  font-size: 1.2rem;\n  text-align: center;\n}\n<\/style>\n\t<\/div>\n\t\n\n<a href=\"https:\/\/finskillbox.com\/wp-content\/uploads\/2025\/06\/LEASING-CONTRACT-Part-2.pdf\" class=\"button primary is-outline\" style=\"border-radius:10px;\">\n\t\t<span>Download file<\/span>\n\t<\/a>\n\n\n\t<div id=\"text-3369659430\" class=\"text\">\n\t\t\n<p>Covaliov Georgeta,<\/p>\n<p>auditor, CIPA<br \/>\n\t\t\n<style>\n#text-3369659430 {\n  font-size: 1.2rem;\n  line-height: 0.75;\n  text-align: right;\n}\n<\/style>\n\t<\/div>\n\t\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n\t<div id=\"col-814969011\" class=\"col small-12 large-12\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\t<div id=\"text-388023481\" class=\"text\">\n\t\t\n\n<h2 style=\"text-align: center;\"><span style=\"color: #ed1c24;\"><strong>LEASING<\/strong> <strong>ACCOUNTING<\/strong> <strong>ACCORDING<\/strong> <strong>TO<\/strong> <strong>NATIONAL<\/strong> <strong>REGULATIONS<\/strong><\/span><\/h2>\n<p><strong>Financial leasing accounting. Financial leasing accounting at the lessor<\/strong><\/p>\n<p>According to item 35 of the NAS &#8220;Leasing contracts&#8221;, the lessor registers the transfer of the asset in financial leasing as the output of the corresponding object. For this purpose, at the beginning of the leasing term, the following are accounted for:<\/p>\n<ul>\n<li>settlement of depreciation and impairment losses accumulated up to the transfer of the asset to financial leasing (if any);<\/li>\n<li>the concomitant increase of the receivables and anticipated revenues to the amount of the guaranteed reimbursable and residual value of the asset transferred in financial leasing;<\/li>\n<li>the increase of anticipated expenses and the decrease of the book value of the asset transferred in financial The asset transferred in financial leasing is reflected in the off-balance sheet account.<\/li>\n<\/ul>\n<p>As the terms of payment of the leasing payments, established by the leasing contract, occur, the lessor reflects:<\/p>\n<ul>\n<li>reclassification of long-term receivables on leasing;<\/li>\n<li>Recognition of financial leasing income in the amount of the refundable value;<\/li>\n<li>on the part of the leasing proceeds.<\/li>\n<li>reclassification of long-term anticipated expenditure.<\/li>\n<\/ul>\n<p>Lease payments comprise two main elements:<\/p>\n<ul>\n<li>principal (surrender value) and<\/li>\n<li>leasing interest.<\/li>\n<\/ul>\n<p>The size, calculation method, periodicity of payment are established in the contract. As a rule, the leasing installments are paid in equal parts for each payment period. In this context, the need arises to distribute the leasing installments between the principal and the interest.<\/p>\n<p>At the end of the management period, during the financial leasing term, the lessor reflects the share of:<\/p>\n<ul>\n<li>long-term receivables;<\/li>\n<li>long-term anticipated revenues;<\/li>\n<li>long-term anticipated expenditure<\/li>\n<\/ul>\n\n\t\t\n<style>\n#text-388023481 {\n  font-size: 1.1rem;\n}\n<\/style>\n\t<\/div>\n\t\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n<\/div>\n<p><!--nextpage--><\/p>\n<div class=\"row align-center\"  id=\"row-1620387557\">\n\n\t<div id=\"col-1942996823\" class=\"col medium-8 small-12 large-8\"  >\n\t\t\t\t<div class=\"col-inner text-center\"  >\n\t\t\t\n\t\t\t\n\t<div id=\"gap-444917789\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-444917789 {\n  padding-top: 50px;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"text-3669913001\" class=\"text\">\n\t\t\n<h1>ACCOUNTING AND TAXATION OF LEASING CONTRACTS<\/h1>\nPART 2\n\t\t\n<style>\n#text-3669913001 {\n  font-size: 1.2rem;\n  text-align: center;\n}\n<\/style>\n\t<\/div>\n\t\n\n<a href=\"https:\/\/finskillbox.com\/wp-content\/uploads\/2025\/06\/LEASING-CONTRACT-Part-2.pdf\" class=\"button primary is-outline\" style=\"border-radius:10px;\">\n\t\t<span>Download file<\/span>\n\t<\/a>\n\n\n\t<div id=\"text-1478998893\" class=\"text\">\n\t\t\n<p>Covaliov Georgeta,<\/p>\n<p>auditor, CIPA<br \/>\n\t\t\n<style>\n#text-1478998893 {\n  font-size: 1.2rem;\n  line-height: 0.75;\n  text-align: right;\n}\n<\/style>\n\t<\/div>\n\t\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n\t<div id=\"col-1761288716\" class=\"col small-12 large-12\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\t<div id=\"text-2258744661\" class=\"text\">\n\t\t\n\n<h2 style=\"text-align: center;\"><span style=\"color: #ed1c24;\"><strong>LEASING<\/strong> <strong>ACCOUNTING<\/strong> <strong>ACCORDING<\/strong> <strong>TO<\/strong> <strong>NATIONAL<\/strong> <strong>REGULATIONS<\/strong><\/span><\/h2>\n<p><strong>Accounting of financial leasing to the lessee<\/strong><\/p>\n<p>According to item 12 of the standard, the cost of entry of the asset received in financial leasing by the lessee includes 3 components:<\/p>\n<ul>\n<li>principal (redeemable value of the asset);<\/li>\n<li>guaranteed residual value;<\/li>\n<li>costs directly attributable to the receipt of the leased asset (e.g., costs related to the conclusion of the leasing contract, transport, road insurance, preparation of the asset for the predetermined use), which according to the conditions of the contract are borne by the lessee.<\/li>\n<\/ul>\n<p>Upon receipt of the financial leasing asset, the lessee determines the minimum leasing payments and establishes:<\/p>\n<ul>\n<li>the useful service life of the asset, which may not exceed the term of the leasing contract;<\/li>\n<li>the method of calculating the depreciation of the asset.<\/li>\n<\/ul>\n<p>During the leasing term, the lessee reflects:<\/p>\n<ul>\n<li>calculation of depreciation;<\/li>\n<li>impairment of the asset;<\/li>\n<li>maintenance, repair, insurance costs of the<\/li>\n<\/ul>\n<p>The financial leasing payments that are made by the lessee during the leasing term include:<\/p>\n<ul>\n<li>the principal parts (reduction of the redeemable value of the leased asset);<\/li>\n<li>and leasing interest.<\/li>\n<\/ul>\n<p>As the payment terms occur, the payments related to the reimbursable value of the leased asset are accounted for as a decrease in the current share of long-term debts and an increase in current debts.<\/p>\n<p>The leasing interest is calculated during the leasing term as the payment terms occur by the method provided in the leasing contract and is recorded as current expenses or capitalized according to the NAS &#8220;Borrowing costs&#8221;. At the end of the management period, during the financial leasing term, the lessee reflects theshare of the lease debt.<\/p>\n\n\t\t\n<style>\n#text-2258744661 {\n  font-size: 1.1rem;\n}\n<\/style>\n\t<\/div>\n\t\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n<\/div>\n<p><!--nextpage--><\/p>\n<div class=\"row align-center\"  id=\"row-924089220\">\n\n\t<div id=\"col-1441923014\" class=\"col medium-8 small-12 large-8\"  >\n\t\t\t\t<div class=\"col-inner text-center\"  >\n\t\t\t\n\t\t\t\n\t<div id=\"gap-2055135769\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-2055135769 {\n  padding-top: 50px;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"text-2391205948\" class=\"text\">\n\t\t\n<h1>ACCOUNTING AND TAXATION OF LEASING CONTRACTS<\/h1>\nPART 2\n\t\t\n<style>\n#text-2391205948 {\n  font-size: 1.2rem;\n  text-align: center;\n}\n<\/style>\n\t<\/div>\n\t\n\n<a href=\"https:\/\/finskillbox.com\/wp-content\/uploads\/2025\/06\/LEASING-CONTRACT-Part-2.pdf\" class=\"button primary is-outline\" style=\"border-radius:10px;\">\n\t\t<span>Download file<\/span>\n\t<\/a>\n\n\n\t<div id=\"text-2507847219\" class=\"text\">\n\t\t\n<p>Covaliov Georgeta,<\/p>\n<p>auditor, CIPA<br \/>\n\t\t\n<style>\n#text-2507847219 {\n  font-size: 1.2rem;\n  line-height: 0.75;\n  text-align: right;\n}\n<\/style>\n\t<\/div>\n\t\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n\t<div id=\"col-1330800187\" class=\"col small-12 large-12\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\t<div id=\"text-2712531863\" class=\"text\">\n\t\t\n\n<h2 style=\"text-align: center;\"><span style=\"color: #ed1c24;\"><strong>LEASING<\/strong> <strong>ACCOUNTING<\/strong> <strong>ACCORDING<\/strong> <strong>TO<\/strong> <strong>NATIONAL<\/strong> <strong>REGULATIONS<\/strong><\/span><\/h2>\n<p>According to NAS Exchange rate and amount differences,<\/p>\n<p><strong>pct.5.<\/strong> Foreign currency operations include:<\/p>\n<ul>\n<li>export\/import of assets, services, works, other international trade operations;<\/li>\n<li>receiving\/granting credits and loans in foreign currency;<\/li>\n<li>making financial investments in foreign currency (purchase of securities, shares in the share capital of the foreign entity, etc.);<\/li>\n<li>issuance of advances for settlement, receiving\/transmitting leased goods and other operations in foreign currency between residents of the Republic of Moldova allowed by the legislation in force.<\/li>\n<\/ul>\n<p>According to the NAS Exchange Rate and Amount Differences, the manner of documenting the exchange rate differences related to operations in foreign currency with residents of the Republic of Moldova is conditioned by the date of recalculation in national currency of assets and receivables in foreign currency.<\/p>\n<p>The exchange rate differences recorded at the date of payment of receivables and debts must be documented in the same way as the transactions carried out with non-residents, i.e. on the basis of payment documents (payment orders, account statements).<\/p>\n<p>The exchange rate differences calculated at the reporting date must be confirmed by the standard primary document &#8220;Act of confirmation of receivables and liabilities in foreign currency related to economic operations between residents of the Republic of Moldova&#8221; (hereinafter \u2013 act of confirmation of receivables and liabilities in foreign currency).<\/p>\n<p>The form of the nominated act and the instruction on how to fill it in are approved by the Order of the Minister of Finance no. 71 of 30.05.2014 (no. 153\u2013159\/ 13.06.2014).<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-962 size-full aligncenter\" src=\"https:\/\/finskillbox.com\/wp-content\/uploads\/2025\/06\/Table-2-1.png\" alt=\"Table 2\" width=\"1021\" height=\"526\" srcset=\"https:\/\/finskillbox.com\/wp-content\/uploads\/2025\/06\/Table-2-1.png 1021w, https:\/\/finskillbox.com\/wp-content\/uploads\/2025\/06\/Table-2-1-300x155.png 300w, https:\/\/finskillbox.com\/wp-content\/uploads\/2025\/06\/Table-2-1-600x309.png 600w, https:\/\/finskillbox.com\/wp-content\/uploads\/2025\/06\/Table-2-1-768x396.png 768w\" sizes=\"auto, (max-width: 1021px) 100vw, 1021px\" \/><\/p>\n\n\t\t\n<style>\n#text-2712531863 {\n  font-size: 1.1rem;\n}\n<\/style>\n\t<\/div>\n\t\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n<\/div>\n<p><!--nextpage--><\/p>\n<div class=\"row align-center\"  id=\"row-1821427571\">\n\n\t<div id=\"col-1101612600\" class=\"col medium-8 small-12 large-8\"  >\n\t\t\t\t<div class=\"col-inner text-center\"  >\n\t\t\t\n\t\t\t\n\t<div id=\"gap-1177567652\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1177567652 {\n  padding-top: 50px;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"text-3545402183\" class=\"text\">\n\t\t\n<h1>ACCOUNTING AND TAXATION OF LEASING CONTRACTS<\/h1>\nPART 2\n\t\t\n<style>\n#text-3545402183 {\n  font-size: 1.2rem;\n  text-align: center;\n}\n<\/style>\n\t<\/div>\n\t\n\n<a href=\"https:\/\/finskillbox.com\/wp-content\/uploads\/2025\/06\/LEASING-CONTRACT-Part-2.pdf\" class=\"button primary is-outline\" style=\"border-radius:10px;\">\n\t\t<span>Download file<\/span>\n\t<\/a>\n\n\n\t<div id=\"text-2965276804\" class=\"text\">\n\t\t\n<p>Covaliov Georgeta,<\/p>\n<p>auditor, CIPA<br \/>\n\t\t\n<style>\n#text-2965276804 {\n  font-size: 1.2rem;\n  line-height: 0.75;\n  text-align: right;\n}\n<\/style>\n\t<\/div>\n\t\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n\t<div id=\"col-713522141\" class=\"col small-12 large-12\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\t<div id=\"text-3773746715\" class=\"text\">\n\t\t\n\n<h2 style=\"text-align: center;\"><span style=\"color: #ed1c24;\"><strong>LEASING<\/strong> <strong>ACCOUNTING<\/strong> <strong>ACCORDING<\/strong> <strong>TO<\/strong> <strong>NATIONAL<\/strong> <strong>REGULATIONS<\/strong><\/span><\/h2>\n<p><span style=\"color: #00a859;\"><strong><em>Sxomple<\/em><\/strong> <strong><em>2.<\/em><\/strong><\/span><\/p>\n<p>On 10.05.201X, the &#8220;Alfa&#8221; entity leased a car to the &#8220;Beta&#8221; entity for a period of 36 months. According to the contract, after the expiration of the leasing term, on 09.05.201X+3, the car becomes the property of the lessee. The entry value of the car is equal to the refundable value and is 34 152 EUR, recalculated at the NBM exchange rate on 10.05.201X 1 EUR = 18.6839 lei, which is 638 092.55 lei. The refundable amount in lei is reflected in the WH 0675647 invoice dated 10.05.201X.<\/p>\n<p>The leasing interest is 9% of the unpaid redeemable value of the asset and is paid monthly until the 10th. At the beginning of the leasing term, the lessee pays an advance in the amount of 10% of the reimbursable value and amounts to 63 809.26 lei. The advance will be taken into account when paying the debt to the lessor starting with the 30th month.<\/p>\n<p>According to the contractual provisions, the amount of monthly lesing payments is EUR 759.10 and will be paid at the commercial rate of BC &#8220;Victoriabank&#8221; SA from the date of payment. On 10.06.201X the principal was calculated in the amount of 581.79 EUR and the leasing interest \u2013 177.31 EUR. The commercial exchange rate at the date of payment was EUR 19.00.<\/p>\n<p>The depreciation of the car is calculated according to the linear method, the annual depreciation norm being 12.5%. The car will be used by the sales department.<\/p>\n<p>Upon receipt of the leased car, the lessee incurred the following expenses: one-time commission paid to the lessor in the amount of EUR 683.04, the equivalent of MDL 12 761.85;<\/p>\n<p>CASCO insurance premium for the first year \u2013 EUR 1,536.84, the equivalent of RON 28,714.16; mandatory insurance premium for 201X \u2013 1 920 lei; expenses related to the registration and registration of the car \u2013 1 150 lei.<\/p>\n<p>According to the accounting policy, the above-mentioned expenses are considered insignificant.<\/p>\n<p><strong>It<\/strong> <strong>is<\/strong> <strong>required<\/strong> <strong>by<\/strong>: prepared the accounting formulas and calculations related to the leasing of the car to the lessee and lessor.<\/p>\n<p>Based on the data in the example, the lessor and the lessee will account for the economic operations in the following way:<\/p>\n<p style=\"text-align: center;\"><strong>Financial leasing accounting records<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-1021 size-full\" src=\"https:\/\/finskillbox.com\/wp-content\/uploads\/2025\/06\/Table-2-2.png\" alt=\"Table 2\" width=\"1003\" height=\"450\" srcset=\"https:\/\/finskillbox.com\/wp-content\/uploads\/2025\/06\/Table-2-2.png 1003w, https:\/\/finskillbox.com\/wp-content\/uploads\/2025\/06\/Table-2-2-300x135.png 300w, https:\/\/finskillbox.com\/wp-content\/uploads\/2025\/06\/Table-2-2-600x269.png 600w, https:\/\/finskillbox.com\/wp-content\/uploads\/2025\/06\/Table-2-2-768x345.png 768w\" sizes=\"auto, (max-width: 1003px) 100vw, 1003px\" \/><\/p>\n\n\t\t\n<style>\n#text-3773746715 {\n  font-size: 1.1rem;\n}\n<\/style>\n\t<\/div>\n\t\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n<\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":931,"parent":228,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-871","page","type-page","status-publish","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/finskillbox.com\/en\/wp-json\/wp\/v2\/pages\/871","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finskillbox.com\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/finskillbox.com\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/finskillbox.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/finskillbox.com\/en\/wp-json\/wp\/v2\/comments?post=871"}],"version-history":[{"count":25,"href":"https:\/\/finskillbox.com\/en\/wp-json\/wp\/v2\/pages\/871\/revisions"}],"predecessor-version":[{"id":1335,"href":"https:\/\/finskillbox.com\/en\/wp-json\/wp\/v2\/pages\/871\/revisions\/1335"}],"up":[{"embeddable":true,"href":"https:\/\/finskillbox.com\/en\/wp-json\/wp\/v2\/pages\/228"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finskillbox.com\/en\/wp-json\/wp\/v2\/media\/931"}],"wp:attachment":[{"href":"https:\/\/finskillbox.com\/en\/wp-json\/wp\/v2\/media?parent=871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}