Message # 9 The Minister Of Finance Of December 23, 2011 On The Announcement Of The Resolution Of The Committee Of The Accounting Standards Board On Adoption Of Revised National Accounting Standard No. 5 "lease, Rental And Leasing"

Original Language Title: KOMUNIKAT NR 9 MINISTRA FINANSÓW z dnia 23 grudnia 2011 r. w sprawie ogłoszenia uchwały Komitetu Standardów Rachunkowości w sprawie przyjęcia znowelizowanego Krajowego Standardu Rachunkowości nr 5 "Leasing, najem i dzierżawa"

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Announces to a resolution No 16/11 Accounting Standards Committee of 13 December 2011 on the adoption of a revised National accounting standard no. 5 "lease, rental and leasing", annexed to the communication.



The Minister of finance. Ludwik Kotecki annex 1. [Resolution No. 16/11 ACCOUNTING STANDARDS COMMITTEE of 13 December 2011 on the adoption of a REVISED NATIONAL ACCOUNTING STANDARD No. 5 "lease, rental and leasing"]

Annex to the communication No 9 the Minister of Finance of December 23, 2011 (item 52) RESOLUTION NO. 16/11 ACCOUNTING STANDARDS COMMITTEE of 13 December 2011.

on the adoption of a revised National accounting standard no. 5 "lease, rental and lease" pursuant to § 6 paragraph 1. 2. § 2 paragraph 1 of the regulation of the Minister of Finance of 28 November 2001 on the scope and manner of Organization Committee of the accounting standards Board (Journal of laws No. 140, item 1580, as amended) shall adopt the following: § 1.

1. the Committee shall adopt the amendment to the National accounting standard no. 5 "lease, rental and leasing", annexed to this resolution.

2. Standard referred to in paragraph 1. 1, shall enter into force on the date of the notice in the official journal of the Ministry of finance.

3. Is repealed resolution No. 2/08 Committee of the accounting standards of 11 March 2008 on the adoption of a national accounting standard no. 5 "lease, rental and leasing".

§ 2.

Revised CRS # 5 "lease, rental and lease" shall apply for the first time to the financial statements prepared for the financial year has started in 2012, with the possibility of an earlier application.

§ 3.

The resolution shall enter into force on the day.

The Secretary of the Committee Chair of the accounting standards Committee, Aneta Gołdyń, Joanna Dadacz CRS # 5 "lease, rental and lease of" table of contents i. purpose and scope of application II. Definitions III. Classification of lease, rental and leasing, and common issues IV. Operating leases-records in using v. operating leases-records on the lessor. Financial leasing – records in using the VII. Financial leasing – records on financing VII. Leasing IX. Hire and lease-records on the tenant or tenant X. Lease and lease-records on the landlord or lessor. Presentation and disclosure of information about leasing and lease and lease. Simplified registration of contracts of financial leasing and. purpose and scope of application of the standard and 1. This National Accounting Standard, hereinafter referred to as the Standard, defines the principles of valuation and recognition in the accounts of and criteria for the presentation and disclosures in the financial statements of assets and liabilities, and the costs and revenues arising from lease agreements, rental and leasing, referred to in article 1. 3 paragraphs 1 and 2. 4 and 5 of the Act of 29 September 1994 on accounting (OJ of 2009 # 152, item 1223, as amended), hereinafter referred to as the Act. Classification of lease agreements, rental and lease for the purposes of the standard illustrates the annex 2. The purpose of the standard is to help in solving problems, what raises the application of lease agreements, rental and lease accounting in practice.

And 2. Standard applies to all types of leases, named in the civil code, lease agreements and lease and all contracts of a similar nature, which are tangible and intangible assets, hereinafter referred to as the interchangeable assets, with the exception of contracts arising from commercialisation and privatisation. The standard applies to m.in. leasing contracts, which cause the transfer to the lessee the right to use the assets, even if the financing is still required to perform substantial services related to the maintenance or use of such assets. Included in the Standard practices for fixed assets and intangible assets shall also apply to investments in real estate and rights, valued and depreciated according to the rules applicable to the fixed assets and intangible assets.

3. Standard also applies to using, applying the exemption provided for in article 4. 3 paragraphs 1 and 2. 6 of the Act (you can apply the principles of classification of leasing contracts provided for the provisions of the income tax Act), in respect of records of lease agreements, rental and leasing, and the presentation and disclosure of lease, lease and lease in the financial statements. Given in the standard ways to post a lease, rental and lease other than banks and insurance units, which involves annex # 1 to the Act. Banks and insurance companies adjust the standard explanation to your specifics. Included in the standard posting diagrams and examples do not constitute its integral part and only serve illustration explanation.

And 4. application of the standard does not affect the classification of the lease is made on the basis of the provisions of the income tax act.

And 5. Not apply Standard: a) to the valuation of real estate and rights held by using as real estate investments and measured at the market price or fair value, b) to the valuation of investments in real estate and the right cast by the lessor in the operational leasing, the market price or otherwise determined fair value, c) to the contracts which are contracts for the provision of services and do not transfer the right to use of assets between the parties.

And 6. Business practice fairly common is a condition that the contracts included under Act financial lease are for tax purposes considered as operating lease. Explanation of the Standard include the standard solution for proper recognition of the effects of a finance lease classified as an operating lease for tax purposes, but does not include the interpretation of the income tax consequences of leasing contracts. Due to differences between the accounting and tax recognition of lease applications require the provisions of the national accounting standard # 2 the income tax. A different shot of the lease also provide for rules on tax on goods and services.

And 7 Standard provides for the possibility of the application by the lessee and the lessor simplified solutions for financial leasing contracts, if there is no significant image distortion and financial situation and profit distributed by the financial statements. Simplified solutions for leasing records are presented in chapter XII. Standard.

And 8. Content Standard is based on international accounting standard 17 (IAS 17) "Leasing", issued by the international accounting standards Board (International Accounting Standards Board). The major differences between the Standard and IAS No. 17 consists in this, that the Standard:-a different approach to the classification of leasing contracts, – more specifically explains some considerations (m.in. recognition of contract fees, fees, fees, basic, terminal dues, the initial value of the subject of financial leasing, the leasing fee-sharing on the part of the capital and interest – allows you to use simplified solutions for: Division of charges on the land portion and portion of the buildings in the case of leasing real estate , – provides for different treatment effects of operating lease back transaction, – provides for the narrower scope of disclosure rather than IAS 17, – provides guidance on the accounting for lease agreements and lease concluded for an indefinite period.

II. definitions used in the Standard means: II. 1. Lease agreement this lease agreement is named in the civil code, as well as any other contract concluded for a specified period of time, under which one party, called the "financing", offers fee-używania1), or use, and the beneficial use of the other side, "using" the subject of the lease, which are assets. real estate, equipment, machinery, means of transport, intangible. The lease agreements within the meaning of the standard are, therefore, also named in the civil code the lease and the lease, that period of time. The scope of the lease may also enter additional (subsidiary) the benefits related to the subject of the lease, such as. maintenance of premises in the State suitable for use (such as heating, lighting, water, functioning elevators, cleaning, protection) or to provide technical service, cast in the leasing of machinery and equipment. Within the meaning of the standard lease period is at least 12 months.

II. 2. Lease Agreement-within the meaning of the standard is a contract by which the lessor undertakes to give the tenant thing to use for an indefinite period (i.e. one that is not specified in the contract), and the tenant agrees to pay the landlord the agreed rent.

II. 3. Lease – within the meaning of the standard is a contract by which the lessons agrees to give the tenant thing to use and beneficial use for an indefinite period, and the tenant agrees to pay to the lessor the rent agreed.

II. 4. Financing-lease agreements, as well as lessons and the landlord, if the rental agreement and lease are leasing contracts within the meaning of the standard.


II. 5. Using-page lease agreement, as well as the tenant and the tenant, if the tenancy agreement and leases are lease agreements within the meaning of the standard.

II. 6. Financial Leasing is a leasing agreement that meets at least one of the conditions referred to in article 1. 3 paragraphs 1 and 2. 4 of the Act. Subject matter of the contract of financial leasing is classified as fixed assets, intangible assets or investment in real estate and beneficiary rights and this makes the depreciation. Rules for the classification of leases is explained in chapter III of the standard.

II. 7. Operating lease – this is a lease other than a finance lease contract. The subject of operating lease is classified as fixed assets, intangible assets, investments in real estate and the law on financing and this depreciation.

II.8. The starting point of the lease is the earlier of the two dates: the date of conclusion of the lease agreement or the date of the commitment of the parties to the contract to comply with the essential provisions of the lease. At the start of the leasing contract – depending on its provisions – is classified to a finance lease or an operating lease.

II. 9. Lease term – this is the period for which funding promised in the contract the lease to donate in leasing the asset, along with any additional periods in which the licensee has the right to continue to use the asset subject to bring further charges or without paying, if at the commencement of the lease is reasonably certain that using exercise this right. The lease includes at least 12 months.

II. 10. Moment of the beginning of the period of lease – this is the date on which the licensee is entitled to use the leased asset. It is the date of initial recognition in the accounts of the parties to the contract of lease of the effects of its conclusion (i.e. recognition of assets, liabilities, revenues or expenses of lease).

II. 11. Moment of the completion of the lease – this is provided for in the current lease agreement or contract end date earlier than the date of termination of the contract. The moment of termination of the lease can also be the date resulting from the additional period for which the licensee has the right to continue to use the leased asset.

II. 12. Period of economic usefulness – this is the amount of time that is expected-the asset will be used. It can be also measured the number of units of production or other benefits that are expected can be obtained from the use of the asset.

II. 13. The useful life of the subject of leasing contract – this is counted since the start of the lease estimated period, whose duration is not limited by the lease term, during which is expected to be consumed by the economic benefits embodied in the asset, which a leasing agreement.

II. 14. Residual value of the subject of leasing contract – this is the amount that party in accordance with their beliefs, could get out for an asset which is the subject of the leasing agreement, having regard to his age and status, which will be represented at the end of its economic usefulness.

II. 15. Unguaranteed residual residual value – this is all or part of the residual value of the subject matter of this agreement, which by the lessor is not contractually guaranteed.

II. 16. Guaranteed residual value – this is all or part of the residual value of the subject matter of this agreement, which by the lessor is contractually guaranteed by the lessee or by a third party capable of financially to the implementation of the guarantee.

II. 17. Leasing fees and for rental and lease – these are the fees paid over the lease, rent and lease, to pay which the licensee, lessee or tenant, is or may be under the lease, rental, or lease required, excluding costs for services and taxes to be charged by the lessor, najmującego or lessor and returned, as well as: (a) in the case of a beneficiary-any guaranteed final fee (b) in the case of the lessor-any guaranteed residual value of the leased asset.

If the licensee has the right to purchase the asset, which is the subject of a lease for a price that is expected to be sufficiently lower than its market value (fair) at the date of realisation of this right, that at the start of the lease there is reasonable assurance that the use of the right of use, the lease payments include the minimum fees paid during the period of the lease until the date when the right of purchase is expected-will be completed and the fee , which is required for the implementation of this law (the final fee).

II. 18. fee for conclusion of the contract (fee)-this is a fee payable by the lessee to the lessor before the start of the lease, the nature of the Commission exercise from financing the for the conclusion of the agreement. The fee for the conclusion of the agreement in principle is paid at the start of the lease.

II. 19. Entry fee (initial fee) – this is a fee payable by the lessee, tenant or lessee to the lessor, the lessor or the lessor at the start of the lease, rental or lease, used to cover a specific part of the value of the lease or rental. If the contract fee and entry fee are taken together, and with the invoice does not follow their Division, it is assumed that this is preliminary.

II. 20. Basic Fees are fees paid by the lessee, tenant or lessee to the lessor, the lessor or the lessor during the period of the lease or the lease for the right to use or use and the beneficial use of the subject matter of the contract.

II. 21. final Fee – this is the fee paid by the lessee, the lessee or tenant after the end of the lease, rental or lease, which is the price at which the licensee, tenant or leaseholder acquires the subject of lease agreement, lease or rental.

II. 22. Conditional leasing fee – this is the part of the lease payments, the amount of which is not constant, but depends on the future factors, other than the passage of time (e.g. a revenue share from the sale, the future wear of the subject contract, future price indices, the future market interest rates).

II. Initial direct costs 23 – these are costs that would not have been incurred if the lease, rental, or lease has not been concluded, and the costs directly attributable to the agreement and action to its conclusion; they do not include the costs incurred by the manufacturer or intermediary in the subject matter of the contract of leasing. In the case of the lessor the lessor or the lessor initial direct costs are for example. commissions, fees for legal transactions and other related to the negotiation of the agreement. In the case of the lessee, tenant or tenant's initial direct costs include m.in. fee for conclusion of the contract. The initial direct costs may not include overheads, cost of sales or marketing, as well as the costs of financing the purchase of the subject matter of this agreement.

II. 24. leasing interest rate is the discount rate current at the time of inception, resulting in that the total present value (discounted) and the) lease payments and (b)) the unguaranteed residual value is equal to the total of the fair value of the leased item) and (ii)) any initial direct costs incurred by the lessor.

II. 25. Interest rate using-this is the interest rate at which the licensee would have to pay a similar lease or, if it cannot be fixed-interest rate, which at the moment of commencement of the lease term the licensee could borrow money (get a) for the purchase of the asset, similar to that stipulated in the contract of lease period and similar.

II. 26. gross investment in the lease is the sum of: (a) due from financing the lease payments under a finance lease (excluding contingent lease payments) and (b) any unguaranteed residual value attributable to the lessor.

II. 27. net investment in the lease the gross investment in the lease is discounted using interest rate lease.

II. 28. Unrealised income from financial leasing – is the difference between: (a) leasing and gross investment) b) net lease investment.

II. 29. assignment of insurance – this is included in the contract for the insurance of the item leased disclaimer stating that payment of compensation or a part thereof, for example. for the destruction of, theft of the leased asset, to the lessor and not using.

II. 30. assignment of the lease is a contract between the financing and the third (new users), on the basis of which the lessor transfers its claim, which is in relation to the existing lessee to a third party (new uses).

III. classification of lease, rental and leasing, and common issues III. 1. The standard distinguishes between contracts for a fixed term lease agreements, including finance leases and operating leases and contracts shall be concluded for an indefinite lease and lease (see annex 2).


Typically, the parties to the contract, the lessor, and using, classify the leasing agreement. It is possible, however, that the same lease agreement will be classified by the lessee as operating leases, and by the lessor as a finance lease.

III. 2. If the lease meets at least one of the seven contained in the Act (article 3 (4)) the following conditions, it is classified as a finance lease contract: 1) takes ownership of the object of the agreement to the lessee after the end of the period for which the contract was concluded.

Explanation: this condition is satisfied if the lease agreement provides that after its completion followed by a charge transfer the leased asset to the lessee. This is usually the case if the final fee has been included in the basic fee paid during the period of the lease;

2) includes the right to acquire the subject-matter of the contract by the beneficiary after the end of the period for which it is concluded, at a price lower than its market value from the date of acquisition.

Explanation: this condition is satisfied if the licensee has the right to acquire which is the subject of the lease asset at a price which is expected to be sufficiently lower than its market value (fair) at the date of realisation of this right, that at the start of the lease there is reasonable assurance that the use of this right will benefit. In determining the market value, current at the date of acquisition of the leased asset after the end of the period of the contract, the parties to the contract can adopt the pattern of market value (fair) a comparable asset, in a similar condition and with similar wear on the day of conclusion of the lease agreement;

3) the period for which the agreement of the lease was concluded, corresponds to the most part of the anticipated period of economic usefulness of the leased asset, which may not be less than 3/4 of that period.

Explanation: when estimating the expected periods of economic general interest assets, which are the subject of a lease, the parties to the agreement can accept periods of economic utility of comparable assets or economic periods of general interest underlying common depreciation rates;

4) total lease payments, less the discount determined at the time of commencement of the lease term and per to pay during the term of the contract exceeds 90% of the market value of the subject-matter of the contract on this day. A total of fees shall take into account the value of końcową2) subject-matter of the contract, which the Licensee undertakes to pay for the transfer of ownership on it. Do not include to the sum of the charges of contingent lease payments or payments to the lessor for benefits, taxes and social contributions for this item, if the Licensee pays them regardless of the fees for the use of.

Explanation: If payments for additional services (for example, the fees for the service of the leased asset) are payable to the lessor, together with the charges (that is, using it is not possible to conclude a lease agreement without the conclusion of the service), and these services do not provide the licensee additional benefits, it includes them to the sum of lease payments. To discount the sum of lease payments leasing interest rate is applied, current at the date of conclusion of the contract and, in the case of the absence of the interest rate that uses, current at the date of conclusion of the contract (cf. paragraph II. 20 and 21);

5) contains a promise to the lessor to conclude with using another agreement on putting in charge use the same item or a contract extension so far, on terms more favourable than provided for in the existing agreement.

Explanation: this condition is satisfied where the contract provides for the possibility of a stop in the subject matter of the contract or the exchange of the subject of the contract to another equivalent and embrace it the leasing contract on terms substantially more favourable than provided for in the applicable agreement, so that on the day of conclusion of the contract is sufficiently certain that the licensee makes use of the option of extending the contract. In this case, be examined including the original agreement and extended and checks as a whole meets the criteria set out in subparagraphs 1) to 4) 6) and 7).

6) provides for the possibility of termination of the contract, provided that any resulting from the expenses and losses incurred by the lessor to bear running.

Explanation: this condition is satisfied if the agreement provides that in the event of termination of the contract before the end of the period of validity of the licensee is obliged to pay a contractual penalty, that amount is not negligible. It is assumed that the contractual penalty along with existing leasing fees in principle cover the leasing investment and possible additional funding costs and losses directly related to the earlier termination of the contract;

7) subject-matter of the contract has been adapted to individual needs. Without making any significant changes in it it can only be used by the lessee.

Explanation: the assets that are the subject of a lease can be so specialized that only current use can use them without their significant changes. If, despite the specialized nature of the subject matter of the contract, it can use other use without making any modifications, improvements, etc., the condition is not met.

III. 3. If the lease does not meet any of the conditions listed in point III.2, is classified is to operating leases.

III. 4. lease Classification is made at the time of the start of the lease. If the parties to the agreement will change the terms of a lease in a way that leads to change its classification, this amended Agreement shall be considered a new agreement. Changes in estimates (for example, changing the economic useful life or the residual value of the leased asset) or change of circumstances (e.g., failure to comply with the terms of the agreement of the lease by the lessee) do not result in a change of classification of a lease for accounting purposes. In the case of assignment of the lease, the classification of a lease shall be for the moment, by the party who acquired the rights and obligations associated with this agreement as a result of the assignment of the lease.

III. 5. Leasing agreement involving land and buildings or buildings are classified as operating leases or by applying the same rules as for the leasing contracts for other types of assets. Sometimes the subject of one of the leasing contract is ground and set on the building or construction and the lessor gets from the agreement one leasing fee. There are then two cases (classification of the contract for financial leasing or operating system requires each time the analysis conditions): 1) lease, the object of which are land and buildings (buildings), is entirely classified into operating leases; It is not then you need knowledge of the value of the land and the value of the building (the building), 2) lease, including at the land and buildings (buildings) is a-for accounting purposes – on the leasing of land and leasing of buildings (structures).

In the latter case, the land shall be deemed to be covered by the leases (unless the contract moves substantially to the lessee all the benefits associated with his possession) and buildings (buildings) is covered by a finance lease or operating system, depending on the provisions of the agreement. If the leasing of the land shall be deemed to be operating and building (building), it is necessary to break the lease fees on land portion and portion of the building (construction).

Accounting for the leasing fees between land and building (building) can occur in proportion to the relative value of fees at the time of the start of the lease would pay for the land, including the right of perpetual use of land and building (building).

III. 6. If, in the case of a lease of land and buildings (buildings)-it is impossible to reliably assign a lease fee to each of the components of the subject matter of this agreement, is the entire agreement of the lease is treated as a finance lease or operating, according to the terms of the agreement.

III.7. If the market value (fair) the land is not important, land and buildings (buildings) can be regarded as a whole and consider it as a matter of operating lease or finance, in accordance with the criteria set out in sections III. 1 to III. 3. In this case the useful life of buildings (structures) is the most important period of economic usefulness of the land.

III. 8. in the case of lease agreements distinguish require two types of guarantee deposit paid by beneficiary: deposits repayable subsidies and guarantee deposits accounted for against the lease payments.

In using the deposits guarantee at the time of deposit from financing the posts for example: Wn account "Other accounts payable", has the account "bank account".

Securities shall be returned on the day of their receipt posted for example: Wn account "bank account", has an account "other accounts payable".

While deposits accounted for payment towards leasing fees are posted at the time of inclusion on the repayment obligation e.g.: Wn account "accounts payable current with financing", has an account "other accounts payable".

In financing the guarantee deposits are posted on the day of payment e.g.: Wn account "bank account", has an account "other accounts payable".


Refund of deposit causes on the day of return, write, e.g.: Wn account "Other accounts payable", has the account "bank account".

While deposits accounted for payment towards leasing fees are posted at the time of inclusion on the repayment obligation e.g.: size "other accounts payable". Has "accounts payable current with using".

III. 9. If the licensee, lessee or tenant builds the foundations, assembles, or improvements in the fixed assets which are the subject of a lease, rental, or lease, such costs include predefined cost of fixed assets under construction. Construction of the foundations or mounting generally precedes the adoption of the subject of the lease, rental or lease for use, while the improvement may take place before the adoption of or in the course of use. Explanation of the costs of the improvements shall apply mutatis mutandis to the costs of installation and construction of the Foundation.

If at the time of the adoption of improvements to use, provided for in the agreement operating lease period of continued use by using the leased asset, whose improvement is concerned, is longer than a year or period of the lease or the lease will be expected more than one year, it is using, the tenant or a tenant moves the costs of improvements to fixed assets and absorbs it as improving foreign asset (investment in a foreign object). If this component was not during the period of the lease, rental, or lease of fully depreciated, it's after the end of the lease, rental or lease and return their subject matter to the owner of the net book value of this asset component write off in the weight of other operating charges.

On the other hand, if at the time of the adoption of improvements to use estimated useful life, which is the subject of an operating lease, the lease or the lease, the asset, whose improvement is concerned, is less than a year, is using a write off the costs of improvements in weight cost period.

Improvement costs of fixed assets which are the subject of finance lease increase the value of the leased asset and together with it depreciated according to the General principles.

III. 10. Over lease, rental, or lease contain a clause which makes the leasing fee from the exchange rate specified in the contract or the interest rate.

In order to determine whether, in this connection, there is a need for a separate recognition built-in to the lease, rental, or lease of the derivative, the Contracting Parties shall apply the provisions of a regulation of the Minister of Finance of December 12, 2001 on detailed rules for the recognition, valuation methods, the disclosure and presentation of financial instruments (OJ No 149.1674, as amended), hereinafter referred to as the regulation.

If the regulation the parties to the agreement are required to separate shots of the basic agreement and one or more embedded derivatives, from the date of the agreement, these instruments are recognised in the accounts and are measured at fair value. The effects of the revaluation of the fair value of each of the separate derivatives, at least at the balance sheet date, are recognised in income or financial costs as a gain or loss from revaluation of investment. Gains or losses from the revaluation of the fair value of a derivative instrument is not taken into account in the calculation of the amounts of income and expenses and receivables and liabilities in respect of finance leases.

If during the execution of the contract changes the terms, due to the change set out in the contract fees denominated in foreign currency or in relation to the interest rate, in accordance with the Regulation the Parties shall consider whether there are reasons to exclude from the accounts of the embedded derivative separately recognised from the date of the agreement and of the accounts of the newly extracted derivative.

If, however, the lease agreement meets the conditions of § 10 paragraph 1. 1A paragraph 5 of regulation because of the agreement, other than a financial instrument, it follows the obligation to make the payments denominated in foreign currency, in which: (a)) any of the important for the implementation of the provisions of the agreement between the parties reaches the most revenue and incurs most of the costs (functional currency), b) customary and commonly in international markets are concluded a contract for the supply of specific goods or services, or (c)) generally in the domestic market are concluded a contract for the supply of specific goods or services is built into the agreement, lease, rental or lease of a financial instrument does not require separation. Procedure in this case explained in chapters IV to VII.

III. 11. If the contract lease, rental or lease provides that the accounts of its title or accounts payable and payment will occur in foreign currency, are:-the licensee shall be valued in gold taken in financial leasing assets and liability, denominated in a foreign currency, as announced by the NBP the average rate provided for in the agreement on the day preceding the moment of the beginning of the period of lease – using, tenant or leaseholder shall be valued in gold denominated in a foreign currency liability for charges for financial leasing operating, leasing or letting using announced by the NBP the average rate provided for in the agreement on the day prior to the date of the relevant invoice;

If also the repayment of the liability for charges for financial leasing, operating leasing or letting in under contract in foreign currency, it is using, the tenant or leaseholder shall measure it in dollars:-at the rate actually applied when the payment is not done with currency account – at the rate at which valued foreign currencies at the time of their impact on the account currency, using the method of valuation set out in issue adopted by the lessee , a tenant, tenant accounting policies basis-when the repayment came from currency account, is funding the landlord or lessons are valued in dollars expressed in accordance with the contract in a foreign currency debt of finance lease, operating lease, rental or using as announced by the NBP the average exchange rate of the currency on the day prior to the date of the relevant invoice;

If also the repayment of amounts due under the fees for financial leasing, operating leasing or letting follows in accordance with the contract in a foreign currency, is funding lesson or the landlord shall measure it in dollars:-at the rate actually applied when the payment does not affect the monetary account,-at the average currency rate announced by the NBP, applicable on the day preceding the day of the impact of the measures-when payment affect the monetary account.

IV. Operating Leases-records in using IV. 1. Recognition of lease fees on using – General Use include fees for operating lease (a contract fee, fee, a designation fee), if the use of the variant the comparative profit and loss account for the cost of operating activities or other operating costs, and in the case of the use of the variant spreadsheet profit and loss account to the production cost, general management or sales or to the cost of the remaining operations Depending on the purpose of use of the leased asset. These fees shall be fixed on a straight-line basis, at the same height and is equally to the cost of the individual months or quarters covered by the period of the lease. If, however, another way of spreading lease payments more closely reflects the distribution at the time of the benefits derived by using the subject-matter of the contract, it may also be used. The licensee is not subject of the lease as an asset.

IV. 2. Records of the charges for the lease Registration fees for operating lease, demanding the settlement over the lease term, may be based on the following diagram.





Description of the postings: 1) VAT invoice fee: a) VAT, b) entry fee, 2) Invoice for a basic fee: a) VAT, b) the basic fee, 3) settlement of initial fee: a) entry fee, b) written off part of the initial fee for the period 4) basic fee Settlement: a) basic fee, b) written off part of a basic fee for a given period.

IV. 3. fee for conclusion of a contract fee contract is recognised – in principle – in accordance with the explanations step IV. 1. This requires recognition of contract fees as the accrual and payment of costs for active it in time over the lease term.

IV. 4. Fee initial fee is recognised – in principle – in accordance with the explanations step IV. 1.

IV. 5. specific records of contracts


Operating lease often contain clauses which stipulate that the Licensee undertakes to pay periodic charges for maintenance, repair, remove, damage, or other damages of the leased asset arising during the period of the lease, or agree to pay from financing the forming the subject of the lease asset in the State in which it took over at the start of the lease. As far as regards their own fixed assets an individual can act in such a way that allows you to avoid incurring in the future cost of such maintenance, repairs, etc., in the case of fixed assets acquired on operating lease lease agreement can excludes this possibility. The requirements set out in the operating lease agreement may cause the obligation exists at the balance sheet date, from which you may not withdraw or prevent its fulfilment; There is then an obligating event within the meaning of the CRS # 6, provisions, deferred expenses, contingent liabilities ".

For example: set the partitions or walls of the Interior adopted in leasing premises, in accordance with the contract and operating leases these walls to be removed at the end of the lease. In the case of this at the time of the implementation of the partition walls formed an obligating event, which resulted in the expected cost of wall removal and restore the premises to its original state require recognition as passive interim settlement costs (balance sheet they are shown as a reserve), taking into account changes in value (if these changes are relevant), and drugostronnie – as the corresponding Active settlement of interim costs. Prepaid expenses are systematically written off in the weight of the relevant costs of operations units for the duration of the lease. At each balance sheet date verified is the height of passive accruals costs; in the event of a change in estimates their amount is updated by, respectively, an increase in other operating income or a reduction in other operating costs. At the end of the lease agreement and the restoration of the lease item original state, incurred in connection with the costs shall be borne by the enclosed for this purpose, the accrued expense.

Another example. Leasing agreement may require that the licensee maintained the technical efficiency of equipment or means of transport acquired in operating lease and at the end of the period of the lease turned them in the condition in which they were at the start of the lease. Therefore, device or means of transport must undergo repairs before its return from financing the. In the case of the conclusion of the contract of leasing such provisions of the overhaul is a commitment arising from the lease, and the licensee should be recognised as accrued expense reported in the balance sheet as a reserve. Obligating event giving rise to such an undertaking, can be, for example, each time the device or kilometer by means of transport, as they define the term and scope of necessary, in accordance with the agreement. Passive income settlement on the cost of repair, shown in the balance sheet as a reserve, shall be entered in the as obligations to the lessor, usually based on the special requirements for each type of device, or means of transport, such as for example. the number of hours of work, while at the same time, continue to be the relevant costs in the weight of the operating activities. In the case of certain types of equipment or means of transport and types of lease agreements, it is possible that the accrued expense related to repairs will be in the period operating lease recognised several times and used.

IV. 6. return of the leased asset after the end of the lease in the event of termination of the lease and return from financing the leased asset, ceases to charge the cost of leasing fees. At the end of the leasing period the licensee shall be possible, open on this day, lease payments, and it is estimated that the cost will have to still suffer in connection with the termination of lease agreements (e.g. costs of the premises to its original state, the dismantling and transport of the return) and creates a reserve for this purpose in accordance with the explanations of the national accounting standard no. 6, provisions, deferred expenses, contingent liabilities ".

If for the return of the leased item in good condition the licensee receives from the lessor compensation, include it into the other operating revenue.

If the fixed asset which is the subject of the lease (e.g. it) effort to upgrade (e.g. the costs of modernisation works), and the cost of such improvements is not in the period of the lease fully depreciated (which-in principle-there should be), then using, after the end of the period of the contract, write off niezamortyzowaną net book value improvements in weight other operating charges.

IV. 7. transfer to the lessee of ownership of the leased asset after the lease Transfer to the lessee the ownership of the leased asset after the end of the leasing period is based on a separate agreement to buy/sell.

Using your existing books introduced the subject of a lease in the purchase price, which is the final fee, plus any additional charges and include it to fixed assets, fixed assets, intangible assets, investments in real estate, investments in intangibles or goods. If this item is subject to depreciation, it uses cushions it according to the rules adopted for similar, purchased as a used assets.

If the licensee has made improvements in the lease which the asset (e.g. the unit) and the asset formed as a result of such improvements (leasehold improvements) was not in the period of the lease fully depreciated, it is in the case of acquisition by using the leased asset, its cost increases niezamortyzowana book value (net) this improvement (leasehold improvements).

IV. 8. conclusion the next lease after the end of the original lease agreement Conclusion after operating lease the next lease, the object of which is the current subject of the lease, be treated for accounting purposes as a new lease agreement, classified and reported according to the General principles.

IV. 9. changing the amount of lease payments (based on the thought of the agreement on the course of foreign currency or interest rate) if the lease contains a clause which makes the height per the basic fee period specified in the contract the exchange rate or interest rate, and built-in lease agreement derivative does not require separation (see point III. 10 standard), due to the changes in the amount of lease payments directly affect the cost of this period where there is a change fee and possibly the next.

IV. 10. Revision of the subject and the terms of the contract of lease or Change the conditions of the contract shall be deemed to be a new lease agreement. However, if you change the subject-matter of the contract, which is for example. passenger car, lies in its Exchange and delivery of the item, in terms of the characteristics, functions, performance wear and value, and other important terms of the agreement, and in particular the amounts of the fees and the leasing period does not change, it is considered that the existing lease is continued.

IV. 11. Revision of the lease Both the extension of the lease (not fulfilling the criteria take into account at the initial assessment of the lease), and reduction of the lease shall be deemed to be a new lease agreement.

In the case of the reduction of the lease, in other costs to pay leasing fees on a straight-line basis, or another, if such a solution is selected in accordance with section IV. 1, by the time since the amendment of the agreement to the newly established the end of the lease.

IV. 12. Settlement of the outstanding lease payments in the event of expiry or termination (termination) in the event of expiry of the lease contract as a result of the loss of the leased asset (i.e. stolen) uses charge-unless the agreement provides for-payment provided for in the contract and the value of the lost of the leased asset. The amount of such payments is for using the commitment to financing, aggravating drugostronnie other operating expenses. If the lease provides for compulsory insurance the subject matter of the sale of insurance to the lessor, this use reduces the obligation of compensation due from financing the undertaking by referring them to other operating income.

In the case of a termination of the lease by the lessor or lessee, any remaining to be paid by the lessee, provided for in the contract or agreement of the parties, lease payments represent a commitment of the beneficiary included in books on the moment of the completion of the lease and aggravating drugostronnie other operating expenses. If the licensee does not recognize this claim, it is-until a court-contingent or reserve, depending on the circumstances.


If after the termination of the leasing contract is followed by return of the leased asset and the lessor shall discontinue all or part of accrued and unpaid fees, it refers them to other operating income, as income from the redemption obligation.

V. operating leases-records on the lessor V. 1. Recognition of lease charges on financing: General principles operating lease fees constitute revenue recognised in financing for the activities of leasing:-is operations-as revenue in the Group revenue from the sale of products (services),-in the other cases-as other operating income.

Income from fees for leasing are allocated to individual months or quarters covered by the period of the lease in the same height (evenly). If, however, another way of spreading lease payments better reflect the distribution of obtaining them in time, it may also be used.

Funding covers the subject of operating lease its records of fixed assets, investment in real estate and rights or intangible and depreciation from him in accordance with the rules of depreciation for similar assets. If the lessor is recognised as other operating lease fee income, it ranks as the depreciation of the leased asset to other operating charges.

V.2. Initial direct costs Incurred by the lessor initial direct costs of the conclusion of the contract (e.g., legal advice, negotiations, salary, intermediaries) include accrued costs and accounted for by leasing period provided for by the agreement. However, if these costs apply to all contracts concluded during the period, and their assignment to a particular contract would be burdensome, they may-unless they are important to charge the costs of the period it is incurred.

V. 3. Records of the charges for the lease Registration fees for operating lease, demanding settlement during the period of the lease, may be carried out as shown in the following diagram.



Description of the postings: 1) VAT invoice fee: a) VAT, b) entry fee, 2) Invoice for a basic fee: a) VAT, b) the basic fee.

3) settlement lease payments: a) the settlement part of the revenue at the time b) any supplement to the leasing fees if an account is accrued income from the lease shows at the end of the period of balance Wn, is entered in the balance sheet as short-term or long-term interim settlement.

V. 4. fee for contract conclusion fee funding agreement settles evenly, as explained point. V. 1. This requires recognition of contract fees as revenue the accrual and its reference to the revenue an appropriate period for the lease agreement provided for.

V. 5. Fee initial fee is recognised as accrued revenues and gradually over the lease revenue refers to the proper period, in accordance with the explanations point. V. 1. Standard.

V.6. The return of the leased asset after the end of the lease in the event of termination of the lease and the return of the object of the agreement the lessor discontinues the reporting of income from lease payments. Any fees due from financing the associated with the termination of the contract if their recovery is sufficiently certain, constitute income (drugostronnie is a rental) of this period, in which the return of the leased asset. The subject of the lease continues to be one of the assets of the lessor. Any compensation paid to the beneficiary are classified as operational costs.

V. 7. transfer to the lessee the ownership of the leased asset after the lease Transfer to the lessee the ownership of the leased asset after the end of the period the agreement is based on a separate agreement to buy/sell. The final fee, which is the selling price of the leased asset is proceeds from the sale of fixed asset investment in real estate and rights or component of intangible assets. Due to the fact that the right of purchase of the leased asset by the lessee is usually an integral part of the contract of lease, and a possible loss on these sales cover previously numbered the lease payment, the difference between the sales price and the net book value of the leased asset is counted according to the revenue or operating costs.

Units for which the lease is not their core business include the sale of a fixed asset investment in real estate and rights or the value of intangible and legal previously cast in leasing as a general rule, other operating revenues, and the value of the net assets sold to other operating charges.

V.8. the sale of the leased asset to a third party after the end of the lease Sale of the leased asset, returned by the existing uses, third party financing is recognised as the sale of the licensee (V. 7).

V. 9. conclusion the next lease after the end of the original lease agreement the conclusion of the next end-of-contract lease operating lease (which does not meet the criteria for its total shots from the previous agreement) shall be deemed to be-for accounting purposes – for a new lease, classified and reported according to the General principles.

V. 10. changing the amount of lease payments (based on the thought of the agreement on the course of foreign currency or interest rate) if the lease contains a clause which makes the amount of the basic fee referred to in the contract the exchange rate or interest rate and built-in lease agreement derivative does not require separation (see paras. III. 10 standard), due to the changes in the amount of lease payments directly affect the income of the period where there is a change fee and possibly the next. In the case of payments in Polish currency is usually the course of the day indicated in the contract, which shall be the conversion of the amounts expressed in foreign currency on gold (the lessor shall issue an invoice in Golden in this height).

V 11. Change the subject or the terms of the contract of lease or Change the conditions of the leasing contract shall be deemed to be a new lease agreement. However, if you change the object of the agreement is its Exchange and delivery item similar in terms of features, functions, performance wear and value, and other important terms of the agreement, and in particular the amounts of the fees and the leasing period does not change, it is considered that the existing lease is continued.

V.12. the change of the lease Both the extension of the lease (not fulfilling the criteria take into account at the initial assessment of the lease), and reduction of the lease shall be deemed to be a new lease agreement.

In the case of the reduction of the lease the lessor are classified as other revenue to pay until the end of the period of the lease receivable lease payments on a straight-line basis or other, if such a solution is selected in accordance with point. V. 1 standard, by the time since the amendment of the agreement to the newly established the end of the lease.

V 13. Settlement of the outstanding lease payments in the event of expiry or termination (termination) in the event of expiry of the lease contract as a result of the loss of the leased asset (e.g. theft) financing charges-if the agreement so provides-using the contract payment of the fees and the value of the lost of the leased asset (see point IV. II standard). The amount of the payment is for the lessor amount from the beneficiary of the home drugostronnie to other operating revenue. Claim for compensation – upon its grant by the insurance-reduces the amount of dochodzoną from the lessee and increases the amount of the insurance undertaking. In the event of loss by using the subject-matter of the contract the lessor shall make its liquidation ("fixed assets" account-NET, Wn account "other operating expenses").

In the case of a termination of the lease by the lessor or the lessee for any remaining to be paid by the lessee the lease payment, determined in accordance with the contract or agreement of the parties, are at the moment of the completion of the lease payment, classified as drugostronnie on financing for other operating revenue.

If the termination of the leasing contract shall be accompanied by a return of the leased asset and the lessor shall discontinue part or all of the debts owed by the beneficiary is umorzoną debt write off in the weight of other operating charges.

VI. Financial Leasing is a record on using VI. 1. The inclusion of the subject of the leasing contract in the accounts-General subject matter of the contract of financial leasing is shown in the accounts of the lessee as a component of assets subject to depreciation, and drugostronnie as a financial liability. Copies of the depreciation of the leased item is made using.

VI. 2. initial value in the subject matter of the contract by using the initial value of the subject of financial leasing, which is the equivalent of the purchase price shall be determined as the lower of:-the market value of the leased asset, at the moment of the start of the lease, or


-the present value of the lease payments, determined by using the lease interest rate or interest rate.

The initial value of the leased asset increase incurred by using the direct costs of the conclusion of the agreement, the Assembly of foundations, adaptation, improvements and other similar.

The market value of the leased asset is responsible – in most cases – the amount specified in the contract. If the lessor does not disclose the value of the leased asset or given by it is not reliable, using the same sets the value of the subject-matter of the contract. To this end, shall take into account the market price of the same or similar subject matter. If the determination of the value of the leased asset on the basis of a market price is not reasonably practicable (which applies to e.g. specialized machinery and equipment tailored exclusively to the needs of the lessee), it sets the value of the leased asset by discount (current value) of the sum of lease payments under the contract.

Total lease payments under shall be taken into account by discounting of fee and charges. The final fee takes into account a total lease payments covered by discounting when using promised in the agreement to pay or are economically justified. Does not take into account contingent lease payments; they represent the cost of the period in which they are incurred.

The recommended interest rate, which is followed by discounting the charges, is the interest rate on the lease (compare paragraph II. 20). Subsequent changes in foreign exchange rates or interest rates (in the case of contracts where the amounts of the fees depends on the foreign currency or interest rates) do not affect the change in the classification of a lease.

If you change the scope of the agreement, originally set the initial value of the leased asset is not changed. While the extension of the scope of the agreement to cover the leasing contract, additional item represents a new lease agreement. If a change in the subject matter of the contract is delivered in place of existing other leased asset similar in terms of features, functions, performance wear and value, and other important terms of the agreement, and in particular the amounts of the fees and the leasing period does not change, this Agreement shall be considered to be continued.

VI. 3. Depreciation of the leased asset Use the depreciation shall be made the subject of financial leasing when applying the principles referred to in article 1. 32 and 33 of the Act. If the lease agreement does not provide for that the Licensee obtains on the moment of the completion of the lease title of the subject-matter of the contract (for no additional charge, or for a final), this asset in the whole stave off by: lease term or period of economic usefulness if it were shorter. If the agreement provides that after the end of the Licensee obtains ownership of the leased item (at no extra charge or fee to final) is the asset be depreciated by its period of economic usefulness, in accordance with the rules of depreciation (method, rate) by using similar their own assets.

Cushioning provides for using cost of operating activities, manufacture, general management, sales, or cost of the remaining operations, depending on the purpose of the use of the leased asset.

VI. 4. General basic fee-sharing on the part of the capital and interest if the leasing of both tax and accounting is a contract of financial leasing, it is generally funding separately reports to settlement, part of the capital and interest charges. However, while leasing is a tax lease operating and accounting finance leases, the lessor is usually due to the provisions of the income tax and VAT, involves a basic fee in one position (amount). In the case of such use is a basic fee for part of the capital and interest, as they are in using: part of the finance charge a basic fee – financial cost, due to the amount of the support lined by the lessor to provide to the licensee of the leased asset, while the equity portion of basic fee – per reporting period repayment obligations to the lessor. If the lease requires the installation and financing charges that uses financial lease charges ranging from the delivery of the leased asset (and therefore also for the period), covering part of the holding company and part of the interest, the interest portion of the lease payments accrued until the subject of the contract to use increase the starting value of the subject-matter of the contract of leasing. Their write-off costs will occur by depreciation.

Basic fee breakdown on the part of the holding company (the value of the leased asset, equal to – in principle – a total lease payments, is subject to depreciation) and interest shall be carried out using the internal rate of return, for example. IRR or XIRR3). Fee and the final rule includes in its entirety to the part of the capital (Debit account "accounts payable financing for the leased asset," has an account "bank account"). Fee for conclusion of the contract, as indicated in paragraph VI. 2 Standard increases the initial value of the leased asset.

Due to the fact that part of the interest is a fixed percentage of the liabilities to the lessor, the proportions of the basic fee-sharing on the part of the capital and interest – to the gradual repayment of part of the holding company-change.

The standard also permits the use of simplified methods of allocation of fees on the part of the lease and interest as referred to in chapter XII.

Division of leasing fees on the part of the capital and interest, made by the lessor and transferred to the licensee (as an annex to the agreement, or an additional element shown in the invoice for the leasing fee) may be accepted by the recipient, but it is not for him.

The choice of method of Division of leasing fees on the part of the capital and interest in individual reporting periods is part of the principles of the accounting policies adopted by the lessee. Using, also in the case of the lessor, the lease fee-sharing shall be part of the capital and interest leasing fees in accordance with the method indicated in the adopted accounting policies basis so as to maintain the comparability of the information contained in the financial statements.

VI. 5. Division basic fee on part of the capital and interest by the internal rate of return (full reducing balance) in accordance with the method of internal rate of return the interest part (which) the leasing fees shall be distributed to the various periods covered by the lease period in such a way that the interest rate in relation to the balance of the lease liabilities was in each period: COi = IRR (XIRR) x Zi or COi = IRR (XIRR) x Ni where : IRR (XIRR)-internal rate of return for regular payment periods (or irregular payment periods), Zi-the amount of the obligations to the lessor in respect of the leased asset at the beginning of the period, Ni-payment from a beneficiary at the beginning of the period.

VI. 6. Records of the charges for the lease Registration fees for finance leases can proceed as shown in the following diagram for where the contract of financial leasing tax is an operating lease.





Description of the postings: 1) VAT invoice fee: a) VAT, b) entry fee, c) part of the net initial fee payable for successive periods, d) Zarachowanie the initial fee towards the repayment of the capital part 2) Invoice for a basic fee and VAT), b) the basic fee NET, c) Zarachowanie repayment of part of the holding company, d) Zarachowanie repayment of part of the interest, 3) VAT invoice for the final fee : and) VAT, (b)) Charged final NET, c) Zarachowanie final charges against the repayment of part of the holding company, 4) the adoption of the asset, 5) the calculation of depreciation.

In the case of a contract of financial leasing, which for tax purposes constitute the contract of financial leasing, accounting may be a simpler way, as shown in the following diagram: description of postings: 1) Invoice the leasing fee: a) VAT on the sum of all fees, leasingowych4), b) Charged the net, 2) Bill or request for payment for leasing fee: a) Zarachowanie repayment of part of the capital b) Zarachowanie repayment of part of the interest 3) Invoice for payment the final NET, 4) the adoption of the asset, 5) the calculation of depreciation.

VI. 7. fee for the conclusion of the lease agreement lease agreement fee increases on using the value of the subject of the lease.

VI. 8. Entry fee


Fee included in its entirety on the repayment of part of the capital (Debit account "Settlement of financing in respect of the subject matter of the contract", has the account "bank account"). It is not a part of the capital and interest. If the entry fee includes several payments prior to introduction to the accounts of the subject-matter of the contract and the obligations, using checks in them initially, at the time of payment (account "bank account"), as advances on purchase of the leased asset (Wn account "Other accounts payable"). At the time of receipt of the subject-matter of the contract paid advances reduce the commitment to the lessor in respect of the subject matter of the lease.

VI. 9. return of the leased asset after the end of the lease if the lease agreement does not provide for the transfer of ownership of the leased asset to the lessee, it is using-after the end of the period of the lease (the repayment obligations of the leased asset)-returns the subject of the lease from financing the and ceases to show the asset on their books (Debit account "asset Write-off", have a "fixed assets"). Given that the period of economic usefulness of the leased asset is responsible then the period of the contract, or is it shorter is the lease should at the moment of the completion of the lease to be fully depreciated.

If for the return of the leased item in good condition the licensee receives from the lessor compensation, include it into the other operating revenue.

VI. 10. transfer to the lessee the ownership of the leased asset after the end of the lease in the case of the acquisition of the leased asset for the final fee is still shown in the assets of the lessee, which continues its shock absorption for a period of economic usefulness. Respect the period of economic usefulness is subject to periodic verification (article 32, paragraph 3, of the Act). The final fee is entirely part of the capital and repayment of liabilities for the acquisition of the leased asset (Wn account "accounts payable financing for the leased asset," has an account "bank account"). Any excess payment of the amount of the commitment shall be debited to the other operating expenses.

VI. 11. The conclusion of the next lease after the end of the original lease agreement Conclusion after the end of the current finance lease another lease of the same subject matter shall be deemed to be-for accounting purposes – for a new lease, classified and reported according to the General principles. If the new agreement meets the criteria of financial leasing, it is necessary to the settlement fees specified in the schedule of payments extended agreement, on the part of the capital and interest, according to the chosen method. Repaid during the period of the original lease agreement are not subject to the charges again per. State funding accounts for the leased asset at the end of the day the original lease corresponds to is a settlement on the day of commencement of the new (extended) of the leasing contract. It is also changing the value at which the subject of the lease is in the books, or method and depreciation rate, if the lease has not yet fully written-off. Any fee for the conclusion of another agreement shall be debited to the ongoing operating costs.

If the new agreement meets the criteria for operating leases are used clarify chapter IV of the standard, and the subject of the lease be excluded from the accounts of the lessee (Wn account "other operating expenses", Has "fixed assets" or "intangible"-the net value of the leased asset and possibly balance obligations to the lessor Wn account "accounts payable financing for the leased asset," has an account "other operating income").

VI. 12. Changing the amount of lease payments (based on the thought of the agreement on the course of foreign currency or interest rate) if the lease contains a clause which makes the amount of the fee specified in the agreement, the exchange rate or interest rate it once set the initial value of the leased asset is not changed, even though the currency fluctuations or changes to the interest rate. Running does not change the height also depreciation.

If built into the lease agreement derivative does not require separation, as it met the conditions set out in § 10 paragraph 1. 1A, point 5 of the Regulation (see point III. 10 standard), on the day of the conclusion of the agreement the licensee shall be determined in the starting amount of part of the interest (financial costs) and liabilities arising from leasing agreements (part of the capital), using the conversion exchange rate for the currency or interest rate of the working day preceding the starting point of the lease.

At the balance sheet date using the updates the amount of lease obligations, caused by differences in income or financial expenses. An updated, expressed in dollars, the amount of the obligation is calculated using the applicable at the balance sheet date exchange rate NBP currency or interest rate specified in the lease agreement.

VI. 13. Changing the subject of the extension of the scope of the lease agreement lease, consisting of taking the same agreement, additional item of the lease shall be deemed to be a new lease agreement.

VI. 14. Revision of the lease contract extension of financial leasing shall be deemed to be the conclusion of the next lease and shall clarify the point VI. 11.

However, shortening the period of a finance lease makes it necessary to reconsider the settlement on the shortened lease parts of the capital and interest fees specified in the schedule of payments. Unless the agreement does not provide for-once it's finished-the transfer of ownership of a leased asset to the lessee, it is also necessary to change the depreciation period of the leased asset, which changes the amount of made in the following financial years depreciation.

Shortening lease can also reclassify the agreement and credited it to operating leases. Apply then the explanation paragraph. VI. 11.

VI. 15. Settlement of the outstanding lease liabilities in the event of expiry or termination (termination) in the case of lease contract of financial leasing as a result of the loss of the leased asset (e.g. due to theft) that burden the payment resulting from the lease. This payment is the obligation to provide for expiry of the agreement, the aggravating drugostronnie other operating expenses. At the same time, liability for the subject matter of the contract shall be written off to other operating income and the net value of the subject of leasing – other operating expenses.

If under the leasing agreement the licensee has entered into an agreement with the sale of insurance compensation to the lessor, upon receipt by the lessor compensation for equivalent use reduces the commitment to financing, as regards the drugostronnie damages other operating income.

When the termination of financial leasing shall be accompanied by a return from financing the leased asset, the lessee shall be debited to the payment resulting from a lease or agreement of the parties. This payment is the obligation to provide for termination of the contract. In the case of such a liability for subject matter turns into a liability for termination of the contract, and any difference between the two obligations relates to other operating expenses, or operating income. While the return from financing the leased asset is recognised on account of other operating charges, its net worth, as the liquidation of the asset or intangible.

VII. Financial Leasing – records on financing VII. 1. Recognition of lease receivables in the accounts – general principles the assets that are the subject of a contract of financial leasing financing shows in its accounts and the balance sheet as long-or short-term financial assets arising from the debt; they are valued at the value of the net investment in the lease.

If cast in a finance lease assets were previously included in the records of the goods, finished products, fixed assets under construction, fixed assets or intangible assets, the net moves from the appropriate accounts of assets on account "accounts payable using the title of the leased asset", where they are in the value of the net investment outstanding; any difference between the value of the net investment outstanding and net value of the subject of financial leasing, minus the present value of the unguaranteed residual value (if relevant) refers to the account of the financial income or financial expenses. This shall also apply in cases where the lessor is the manufacturer of the leased asset or an intermediary.

If placed in financial leasing assets went directly from their suppliers to using, is a record of the account "accounts payable using the title of the leased asset is" followed by in conjunction with side have an account "allocation account" or "other accounts payable".


The value of net investment outstanding increase initial direct costs to the conclusion of the lease. Not part of the initial direct costs incurred by financing the producer objects of leasing or intermediaries, related negotiations and actions aimed at bringing about the lease agreement. Do not increase the net investment outstanding values, but shall be chargeable to the costs upon sale of the leased asset; in the case of financial leasing is usually the starting point of the lease.

VII. 2. Division basic fee on part of the capital and interest on the part of the base fee is Funding and part interest. using the method of internal rate of return (IRR or XIRR), discussed in paragraph VI. 5. so as to reflect a constant periodic rate of return, net investment outstanding by the lessor under a finance lease.

Part of the finance charge a basic fee revenue is recognised on financing for the activities of leasing:-is operations-as extracted revenues from sales of products – in other cases – as finance income.

Part of the capital leasing fees for the period is the repayment of the debts owed by the beneficiary.

VII. 3. Records of the charges for the lease Registration fees for leasing contracts can be carried out as shown in the following diagram, corresponding to the case where the contract of financial leasing tax is an operating lease.





Description of the postings: 1) the transfer of the leased asset to the licensee: a) Shot in the subject matter of the contract in the tax records of fixed assets and intangible assets, 2) VAT invoice fee: a) VAT, b) entry fee, c) the settlement of the initial fee net – part of the capital d) Zarachowanie repayment of part of the holding company, 3) Invoice for a basic fee: a) VAT, b) entry fee, c) settlement of parts of the capital charges , d) settlement part of the interest charges, e) Zarachowanie repayment, part 4) VAT invoice for the final fee: a) VAT, (b)) Charged final NET, c) settlement of charges final-part of the capital d) Zarachowanie repayment of part of the capital, 5) depreciation for tax purposes.

In the case of a contract of financial leasing, which for tax purposes constitute the contract of financial leasing, accounting may be a simpler way, as shown in the wiring diagram: description of postings: 1) the transfer of the leased asset to the licensee, 2) VAT invoice fee: a) entry fee, b) VAT on the sum of all fees leasingo-wych5), 3) account of the normal leasing fee tax: and) part of the basic fee capital NET , b) part of the basic fee finance charge, NET 4) Bill for the final fee.

VII. 4. fee for conclusion of a lease fee for conclusion of lease agreements include in funding to income in the period.

VII. 5. Entry fee fee included in full (on account of repayment) to the part, and so claims on using (Wn account "accounts payable using the title of the leased asset," has an account "bank account"). It is not a part of the capital and interest.

VII. 6. return of the leased asset after the end of the lease in the event of a return, after the end of the period of the contract, from financing the leased asset by the lessee, the lessor introduces the subject of the lease to the books, treating it as purchased, used the component assets. The starting value of the returned item lease financing shall be determined in accordance with article 5. 28 paragraph 1. 2 of Act in the value (price) in the market, to put it drugostronnie-depending on the contract or agreement of the parties-as duty reduction from using or income from financial leasing.

If for the return of the leased item in good condition the lessor hereby grants to the licensee, it includes it operating costs.

VII. 7. transfer to the lessee of ownership of the leased asset after the end of the lease in the event of the sale of the licensee, after the end of the lease, the leased asset for the final fee, this fee is entirely pay off part of the capital. The lessor is recognised final fee as a repayment of the receivable from lessee. If actually paid the fee is higher than shown in the books of the outstanding balance, the difference is transferred to the income from financial leasing.

VII. 8. Sale of the leased asset to a third party after the end of the lease Sale of the leased asset, returned by the beneficiary to date, a third party is recognised as explained in point. V. 7. The cost of the sold to a third party asset is its market value determined according to the explanation paragraph. VII. 7. Any compensation paid to the beneficiary are classified as operational costs.

VII. 9. conclusion the next lease after the end of the original lease agreement Conclusion after the end of the finance lease another lease of the same subject, shall be deemed to be-for accounting purposes – for a new lease, classified and reported according to the General principles. This causes the need to determine whether the new agreement meets the criteria of a finance lease or an operating lease.

Repaid during the period of the original contract of lease fees shall not be subject to the terms. Accounts payable status with the title of the leased asset at the end of the day the original lease corresponds to is a settlement on the day of commencement of the new (extended) of the leasing contract.

If the new agreement meets the criteria for operating lease, it applies the explanations section. V standard, and the subject of the lease be included in the books of the lessor in the manner discussed in section VII. 6.

VII. 10. changing the amount of lease payments (based on the thought of the agreement on the course of foreign currency or interest rate) if integrated in the leasing contract a derivative does not require separation, as it met the conditions set out in § 10 paragraph 1. 1 and paragraph 5 of the Regulation (see point III. 10 standard), on the day of the transfer of the subject of the contract the lessor shall be fixed in the starting amount of part of the interest (finance lease revenue) and amounts due under a lease (part of the capital) in gold, in accordance with points VII and VII. 2 standard, using the conversion exchange rate for the currency or interest rate specified in the contract.

At the balance sheet date the lessor updates amount from using the title of the leasing agreement as regards due to differences in the income or financial expenses. An updated, expressed in dollars, the amount is calculated using the applicable at the balance sheet date exchange rate NBP currency or interest rate specified in the lease agreement.

VII. 11. Revision or extension of the scope of the lease conditions, lease, consisting of taking the same agreement, additional lease or change its terms, shall be deemed to be a new lease agreement.

VII. 12. amendment of the lease agreement extension of financial leasing shall be deemed to be a new lease agreement and shall clarify points VII. 9.

While shortening the finance lease makes it necessary to reconsider the settlement, on a shortened lease, parts of the capital and interest fees specified in the schedule of payments. Shortening the period of lease agreements may cause the need to pass this agreement to an operating lease; apply then the explanation point VII. 10.

VII. 13. Settlement of the outstanding lease payments in the event of expiry or termination (termination) in the event of expiry of the lease contract as a result of the loss (e.g., theft) of the leased asset, the lessor-unless otherwise provided for in-requires payment for the contract.

If the claims arising from the subject matter of the contract for the questionable funding is made of an impairment reported drugostronnie as financial expenses.

If the lease requires the lessee to enter into an insurance contract and the transfer of compensation to the lessor, the effects of the expiry of the agreement shall be recorded after skompensowaniu. Write-off appropriate amount in respect of the subject matter of the contract is then compensated with compensation received (Wn account "bank account", has an account "accounts payable using the title of the leased asset").

In the event of termination of the contract of financial leasing, accompanied by the return of the leased asset, from financing the financing burden using the payment resulting from the agreement, and shall enter in the accounts the item I received a contract, valued it at the market price and reducing drugostronnie debt from using (see point VII. 6 standard).

VIII. return Leasing VIII. 1. The essence of the lease-back


The leaseback transaction consist, in the light of the civil code – two contracts: the sale of certain assets and putting these components in the lease to the seller by the purchaser. The first stage of the transaction, lease-back is disposal of the object of the agreement by its current owner from financing the that then-in the second stage – has acquired assets to use the licensee, which is the vendor, on the basis of an operating lease or finance. Typically, the subject matter of the contract shall remain at all times under the control of the vendor (at the same time using), changes only the entity owning those assets. In accordance with the principle of economic substance over appearance, both contracts are examined for accounting purposes.

VIII. 2. Sale lease-back agreement item by using the first stage of the lease-back transactions – the vendor of the subject contract – is recognised in the same way as a typical contract for the sale of the asset, for example: – sale of fixed asset: Wn account "Other accounts payable" – gross value.

Has an account "other operating income", net worth.

Has an account "accounts payable public law-VAT" (if there is no reason to not charge VAT) and purchase price (cost) sold an asset (asset under construction): Wn account "other operating expenses".

Have a "fixed assets" (net) or has an account "assets under construction".

In the case of the first stage of leasing transactions, vendor contract has only a gain or loss on the transaction. Economically there is typical of the contract of sale.

The adoption of the sold the asset on the basis of a leasing agreement and further its records depend on the classification and the outcome of the sale.

VIII. 3. Operating lease: records of u using if the lease is an operating lease, and the transaction was carried out with the price corresponding to the market value of the leased asset (which applies to sales prices and rents), any profit or loss from the sale of the leased item are affected in using the financial result of the sales period. However, if you suffered on the sale of the leased asset loss compensate future lease payments, lower than the market, the loss accounted for at the time (Wn account "Other accruals", has the account "other operating income") and written down in proportion to the lease payments in costs (Wn account "expenses", has an account "other accruals") over the lease term. As far as-vice versa-the sale price exceeds the market value of the leased asset, the amount in excess of the market value (Debit account "other operating expenses". Has an account "interim Settlement proceeds") shall be accounted for in time for the duration of the lease, properly clearing the lease payments (Debit account "accrued income" account "expenses").

VIII. 4. Financial lease: records on using if the lease is a finance lease, the gain or loss on the sale of the subject of leasing – if this is important – requires settlement in time over the lease term.

Occurs: – profit: Wn account "other operating expenses".

Has an account "deferred income", is a loss: Wn account "Other accruals".

Has an account "other operating income".

The value of the leased asset adjusted for gain or loss on sale (Debit account "fixed assets", has an account "accrued costs" or Wn account "accrued income", have a "fixed assets"), affects the amount of depreciation.

Any balance settlement with financing for this-remaining after the end of the leasing contract-affects other revenues or operating costs.

VIII. 5. treatment of lease-back in the buyer/lessor Customer/financing leaseback recognised in the same way as any contract lease (as if the lease was not part of a transaction involving the sale of the asset and the lease).

In the case where the contract lease-back is an operating lease, the subject matter of the contract are classified as fixed assets or intangible funding. The lessor has income from leasing charges and absorbs the subject of the lease in the manner discussed in chapter V of the standard.

Where the contract lease-back is a finance lease, the purchaser/financing shows commitment to the lessee to acquire the subject matter of this agreement, and at the same time, financial assets in net investment outstanding values. Customer/financing does not recognise the leased item in its accounts, because it does not exercise control over it (control over the asset remains on using). Customer/financing shall recognise the amount of finance lease, valued according to General rules (discussed in Chapter VII of the standard), and part of the interest a basic fee as income from finance leases.

IX. Lease and lease-records on the tenant or tenant IX. 1. The inclusion of fees in respect of the lease or lease-General Tenant or leaseholder shall include fees for the lease or lease-if you use a variant of the comparative profit and loss account for the cost of operating activities or other operating costs, and in the case of the use of the variant spreadsheet profit and loss account to the production cost, general management or sales or to the cost of the remaining operations, depending on the purpose of the use of the subject of lease or rental. The lessee or tenant is not the subject of the lease or the lease as an asset.

IX. 2. Records of the charges for the rental or lease or rental fees, Records can be carried out as shown in the following diagram.



Description of the postings: 1) VAT invoice fee: a) VAT, b) entry fee, 2) Invoice for a basic fee: a) VAT, b) the basic fee.

If the tenant or a tenant has paid the rent for the period of the mountain, it shall be accrued rent because the settlement period is known. Not accounted for at the time of the initial fee, because the agreement is concluded for an indefinite period.

IX. 3. specific records of contracts in cases where the provisions of the lease agreements or leases give rise to current liabilities of obliging event within the meaning of the CRS # 6, provisions, deferred expenses, contingent liabilities ", from which the tenant or the tenant has a duty to deliver, shall apply mutatis mutandis the records point. IV. 5 of this standard.

IX. 4. return of the subject-matter of the contract after the end of the rental agreement or lease if the end of the period of the lease or lease and return the subject-matter of the contract, the tenant or leaseholder shall cease charging the cost of rent and lease fees.

In the case of bear the costs of improvements (e.g.) rented or wydzierżawianego of an asset (e.g. the unit) that has not been fully depreciated during the period of the agreement (which in principle should not be), the tenant or a tenant after the end of the Agreement written down the book value (net) improvements in foreign fixed asset in the weight of other operating charges.

IX. transfer to the tenant or tenant ownership of the subject of lease or the lease after the end of the rental agreement or lease transfer to the tenant or tenant ownership of the subject of lease or the lease after the end of the period the lease or the lease is based on a separate agreement to buy/sell. The tenant or leaseholder introduces in this case to their accounts of the subject existing lease or lease purchase price and include it to fixed assets, intangible assets, investments in real estate, investments in intangibles or goods.

If rented or wydzierżawianym fixed asset (e.g. the unit) the tenant or the tenant has made improvements, and fixed asset resulting from such improvements is not to purchase fully depreciated, it is in the case of the acquisition of the subject of the contract, the lessee or tenant increases net book value improvements in foreign fixed asset acquisition price purchased the subject matter of this agreement.

IX. 6. Change fees for rental or lease (based in accordance with the agreement on the course of foreign currency or interest rate) if the tenancy agreement or lease contains a clause which makes the height per period charge specified in the contract the exchange rate or interest rate, and the built-in in the rental agreement or lease the derivative does not require extractions due to this change the fees for the lease or the lease directly affect the cost of this period where there has been a change in the amount of levy and ew. the next.

IX. 7. Changing the subject or the terms of the rental agreement or lease


Changing the subject, or the conditions of the contract shall be deemed to be a new rental agreement or lease. However, if you change the object of the agreement is its Exchange and providing subject matter similar to the original subject matter of the contract, in terms of the characteristics, functions, performance wear and value, and other important terms of the agreement, and in particular the amounts of the fees or rental are not changed, it is considered that the existing agreement is continued.

X. Rental and leasing-records on the landlord or lessor X 1. The inclusion of fees in respect of the lease or lease-general charges for rental or lease income are recognised on landlords or wydzierżawiających, for which the conclusion of lease agreements or rental:-is operations-as revenue from the sale of products (services),-in the other cases-as other operating income.

The landlord or lesson includes subject matter of the contract hire or lease its records of fixed assets or intangible assets and depreciation of it in accordance with the rules of depreciation for similar assets. If the landlord or lessons or rental fees are recognised as other operating income, depreciation and the subject of lease or lease includes to other operating charges.

X. 2. Initial direct costs Incurred by the lessor or the lessor initial direct costs of the conclusion of the contract (e.g., legal advice, negotiations, salary, etc.) shall be charged to the costs of the period it is incurred.

X. 3. Records of the charges for the rental or lease or rental fees, Records can be carried out as shown in the following diagram.



Description of the postings: 1) VAT invoice fee: a) VAT, b) entry fee, 2) invoice: a) VAT on basic fee, (b) the basic fee).

X. 4. return of the item letting and hiring after the end of the lease or the lease in the event of termination of lease agreements or rental and return the subject-matter of the contract, the landlord or lessons cease reporting of revenue from fees for the rental or lease. Possible additional charges payable to the landlord or purchaser, associated with the termination of the contract if their recovery is sufficiently certain, constitute income (drugostronnie is a rental) of this period, in which the return of the object of the agreement. Subject matter of the contract continues to be one of the assets of the lessor or the lessor.

X. 5. Transfer to the tenant or tenant ownership of the subject of lease agreements or rental after the end of the lease or the lease transfer to the tenant or tenant ownership of the subject of lease or the lease after the end of the period the agreement is based on a separate agreement to buy/sell. The selling price of the subject of the contract is the revenue from the sale of the asset or the intangible asset (drugostronnie is a rental), and the net value of the subject-matter of the contract – other operating expenses.

X. 6. Item Sales or rental to a third party after the end of the contract for sale of the subject rental or lease, returned by the previous tenant or tenant, a third party lessor or lesson is recognised as the sale of tenant or tenant.

X. 7. Change fees for the rental or lease (based in accordance with the agreement on the course of foreign currency or variable interest rate) if the tenancy agreement or lease contains a clause which makes the amount of the fee specified in the agreement, the exchange rate or interest rate and built into the rental agreement or lease the derivative does not require extractions due to this change the height of the fees for the rental or lease directly affect the income of the period where there is a change fee and possibly the next. In the case of payments in Polish currency is usually the course of the day indicated in the contract, which shall be the conversion of the amounts expressed in foreign currency on gold (the lessor shall issue an invoice in Golden in this height).

X. 8. Change the subject or the terms of the rental agreement or lease Modification or conditions of the rental agreement or lease shall be deemed to be a new rental agreement or lease. However, if you change the subject of the contract is delivered in place of the previous item to another with similar characteristics, functions, wear and value, and other important terms of the agreement, and in particular the amounts of the fees do not change, it is considered that the existing agreement is continued.

XI. Presentation and disclosure of information about leasing and lease or lease XI. 1.1. Presentation and disclosed information about operating leases, lease or lease by lessee and lessee or tenant in case of the use of fixed assets or intangible assets based on operating leases or tenancies using the tenant or leaseholder:-show the profit and loss account, the total lease payments and fees for the lease or the lease as an expense of the period – the reveal in the introduction to the financial statements by providing the adopted by the unit of accounting policy policy-rules applicable to operating leases and leases, including the method of accounting for lease payments (in particular if it takes a different method than linear).

-reveal additional information and explanations: a) the value of the assets subject to operating leases and tenancies (POS. 1.3) 6), b) future lease payments broken down (POS. 9) on:-1 year-over 1 year up to 5 years – over 5 years, c) subleasingu fees and subletting or poddzierżawy recognised as income for the period in question (item 9), d) additional fees for leasing (including penalties).

XI. 1.2. Presentation and disclosure of information about financial leasing by lessee in the case of the use of fixed assets or intangible assets on the basis of contracts of financial leasing using:-exhibits in the balance of the net value of the assets which are the object of financial leasing (assets item. AI or item. And II) and the amount of the obligations to the lessor for financial lease by short-term-liabilities item. B III and long term-item. B.,-shall be shown in the profit and loss account the depreciation of leasing items and, as a financial cost – per period the interest portion of the lease payments – reveals, depending on the significance, in the introduction to the financial statements or in the additional information and explanations-presenting adopted by jednostkęzasady accounting policy rules applicable to financial lease and, in particular, the method of allocation of lease payments on the part of the capital and interest, is revealed in the additional information and explanations : and) the total amount of future lease payments at the balance sheet date (item 9) and the present value of the lease payments payable in each of the following periods (1.10): – up to 1 year-over 1 year up to 3 years – over 3 to 5 years, over 5 years, (b)) the amount of the contingent rents recognised as an expense in the period in question (item 9).

XI. 2. Presentation and disclosure of information about leasing, lease or lease by the lessor, the lessor or the lessor the lessor, the lessor or lessons:-show in the balance sheet: the value of assets at the balance sheet date provided in operating leases or which are the subject of the lease or the lease (assets item. And and or. And II.), the amount of receivables in respect of operating leases, rent and lease as claims arising from deliveries and services (assets item. B. 1 or B II. 2) the present value of the lease payments due from the lessee of finance lease (leasing investment net) as financial assets broken down into short-and long-term (assets item. A. IV. or item. URB.III), is an exhibit in the profit and loss account for the period in question: the total amount of lease payments for operating leases and charges for the lease or the lease included as income from the sale or the remaining operating income (depending on whether the operating lease, rental or lease of the primary business units or not), the depreciation of items operating lease, rental, or lease, and part of the interest charges for the financial leasing -in the introduction to the financial statements disclosed by presenting adopted by the unit of accounting policy rules, the rules adopted to: – operating lease and lease and lease-accounting method at the time of lease payments (in particular, if you use a different method than linear) and financial leasing, in particular the method of allocation of lease payments on the part of the capital and interest, is revealed in the additional information and explanations the following data arising out of binding contracts at the balance sheet date : 1) operating lease, rental, or lease (item 9): a) the total amount of future lease payments for operating leases for each of the following periods: and) up to 1 year), (ii) over 1 year, 2) financial leasing:


(a)) the total amount of gross investment in the lease for each of the following periods: and) up to 1 year), (ii) above 1, b) unearned income from financial leasing, c) the unguaranteed residual values payable from financing the.

In order to better adapt to the needs of the users of parts A-F in the profit and loss account in spreadsheet, to be drawn up by the lessor, it is recommended that in accordance with art. 50 (1) of the Act, the appropriate adaptation to peculiarities of leasing activities. In annex 1 of the Standard gives sięjedno possible solutions in this area.

Chapter XII. Simplified registration of financial leasing contracts XII. 1. Conditions for the application of simplified registration of contracts of financial leasing Standard permits by the lessee and the lessor, if the subject of his operations is not letting, rental or leasing, uproszczeńprzy records of the financial leasing contracts, if they do not distort the picture material and financial situation and profit. Simplify:-allocation of fees for financial lease on part of the capital and interest by uniform and the sum numbers and accounting for changes in the fees of financial lease in the case of addictive height lease payments from the contract in foreign exchange rates.

XII. 2. Division of leasing fees on the part of the capital and interest method even if you use uniform value of part of the interest attributable to the individual reporting periods shall be determined using the formula: where: COi-part of the leasing fee finance charge per given period, – the sum of lease payments that require filing during the period of the lease, WP-the initial value of the leased asset, n is the number of periods covered by the leasing contract.

 

The amount of the capital parts per individual reporting periods is equal to: CKi = OLi-COi, where: capital leasing fees – part of the CKi per a given reporting period, OL-leasing fee for the period in question.

 

Regular method is the simplest metodąpodziału leasing fees on the part of the capital and interest. If the licensee applies the linear depreciation method of fixed assets by leasing period – in the case of agreements providing for the conclusion of the contract fee and initial fee, the amount payable to the lessor is equal to the value of the net covered by the leasing of fixed assets at the end of the reporting period.

XII. 3. Division of leasing fees on the part of the capital and interest the sum of numbers (declining balance method approximate) in the event of the application of the method of the sum of the numbers of periods next term fees are assigned ordinal numbers, in such a way that, first date gets the highest number, each number getting lower, and the last time the number 1. So ordered the numbers become counting subsequent fractions. Denominator for all fractions the same – it is the sum of all the numbers. The sum of the numbers of terms (S) shall be calculated using the formula (when charges are payable from the bottom of the individual dates) 7):, where n is the number of terms.

The sum of the interest portion of the lease payments is calculated according to the formula: in the case of reducing the approximate interest part and part of the company per individual reporting periods shall be determined using the formula: XII. 4. Simplified accounting changes financial lease charges based on the exchange rate of foreign currency or interest rate effects of currency rate changes and changes in interest rates affect the interest portion of the leasing fees (financial costs) and on the part of the holding company (commitment to financing).

Simplification is that the difference between the originally determined the leasing fee (according to the exchange rate or the interest rate from the date of the agreement) and the charge actually suffered in the course of the year as a whole on the amount of the interest portion of the payment attributable to the period. The value of the liabilities determined on the basis of the exchange rate or the interest rate from the date of the agreement is not within the reporting period being altered. Long term commitment is calculated only at the balance sheet date according to the current at the balance sheet date exchange rate NBP currency or interest rate, and the difference between the amount of the liabilities determined originally and established at the balance sheet date refers respectively to income or financial expenses, as their correction.

Examples of the application of paragraph III. 5: example 1. Division of leasing fees between land and other real estate Unit has entered into an agreement of leasing real estate covering the ground with a value of 100 000 and 1 000 000 values building on the set. Land size is 200 m2, building area 100 m2. Valuation of property for the needs of the leasing agreement real estate appraiser. The rate for the lease of 1 m2 of usable building for 200 zł per month, and the rate for the lease of 1 m2 of land for $40 per month. These data derive from the expert appraiser who determined the value of the property. profitable method.

Monthly fee for leasing real estate (excluding VAT) is 28 000 zł.

The leasing fee is:-on land 200 m2 x 40 $/m2 = $8000 – this is 28.6% leasing fees.

-for building 100 m2 x 200 PLN/m2 = 20 000 – this is a 71.4% leasing fees.

Clearing the leasing fee between the land and the building, 29% of the leasing fees are allocated to the land, and the rest of the (71%).

Application of point IV. 1: example 2. Accounting for fees in respect of operating leases Using contracted operating lease for 10 years. Under the agreement, wysokośćrocznych lease payments is as follows (in $): 1. Entry Fee: 50 000 2. Basic fee: Year 1 year 2 year 3 year 4 year 5 year 6 year 7 year 8 Year 9 year 10 300 000 300 000 200 000 200 000 100 000 100 000 50 000 50 000 350 000 25 000 1 350 000 Total Fees affecting the profit in each year of the term of the contract, determined by uniform, are as follows: 1. The settlement of the initial fee : $50,000 ÷ 10 years = $5000/year, 2. basic fee Settlement: $1 350 000 ÷ 10 years = 135 000/year.

3. Time: 5000/year + 135 000/year = 140 000/year.

The licensee may share rents for individual reporting periods also in another way, better reflecting the distribution of benefits accruing time with use of the subject matter of the contract, for example. having regard to the planned production volume generated by pomocąprzedmiotu.

Year 1 year 2 year 3 year 4 year 5 year 6 year 7 year 8 Year 9 year 10 Time 100 000 90 000 80 000 70 000 60 000 50 000 40 000 30 000 20 000 10 000 550 000 1. The settlement of the initial fee: $50,000 ÷ 10 years = $5000/year, 2. basic fee Settlement: the height of the underlying lease fees per individual reporting periods will be (in PLN): Year Height cleared charges borne by the leasing financial result 1 (100 000 – 550 000) x 1 350 000 = 245,454.54 2 (90 000 – 550 000) x 1 350 000 = 220,909.09 3 (80 000 – 550 000) x 1 350 000 = 196,363.63 4 (70 000 – 550 000) x 1 350 000 = 171,818.18 5 ( 60 000 – 550 000) x 1 350 000 = 147,272.72 6 (50 000 – 550 000) x 1 350 000 = 122,727.27 7 (40 000 – 550 000) x 1 350 000 = 98181.82 8 (30 000 – 550 000) x 1 350 000 = 73636.36 9 (20 000 – 550 000) x 1 350 000 = 49090.91 10 (10 000 – 550 000) x 1 350 000 = 24545.45 the use of point IV.2. : Example 3. Records of the operating lease charges on using Foundation example as in example 2.

Using posts in and year lease agreement (in PLN): 1. The arrival of the invoice (including VAT)-366 thousand: Wn "allocation account", Has "accounts payable";

2. The settlement of the invoice: Wn "costs by type"-300 thousand, Wn "accounts payable VAT public law"-66 thousand, has a "Settlement" is 366 thousand;

3. Settlement charges: Wn "accruals"-300 thousand, has a "settlement";

4. Write-off charges attributable to the period in question: Wn ' costs by type of activity "– 135 thousand, Has" accrued ".

Application of point IV. 8.: example 4. To take account of changes in the fee in respect of operating leases, caused by a change in the exchange rate of foreign currency Using contracted operating lease for 5 years. According to the contract, the leasing fee is paid in GBP for one year, with the amount of lease payments depends on the exchange rate NBP EUR from the preceding day of issuance of the invoice. Provided for in the agreement, the annual lease payments was (in EUR): Year 1 year 2 year 3 year 4 year 5 Total EUR 150 000 150 000 100 000 50 000 50 000 500 000 on the conclusion of the contract was £ 4/€.


Stage I: the fee chargeable costs periods (years) is the equivalent of 100 thousand. (EUR 500 000. EUR ÷ 5 = 100 thousand. EUR).

Stage II: in the first year of the course is $4.1/EUR and the amount of payments 615 000. PLN; of this amount, 410 000. $ charges expenses (100 thousand. EUR after the current exchange rate) and 205 thousand. PLN is recognised on account accrued costs (equivalent to 50 000. EUR).

Stage III: in the next period (year) course is 4.2/EUR. The amount of the leasing fee is 630 thousand. zł. Depending on the method of accounting of amounts pre-paid in expenses credited will be 415 thousand. (205 thousand PLN paid in the previous period increased by 210 thousand PLN-50 thousand. EUR x 4.2/EUR-paid in current) or 418 thousand. (if the weighted average exchange rate). Accordingly on account accrued costs will be covered, the amount of 420 thousand. $ or 417 thousand. zł, corresponding to 100 thousand. EUR.

The unit adopted by the principles of accounting policies determines whether to settle the amounts przepłaconych operating lease metodęceny used the weighted average, or "first in-first out".

Application of point. V. 3: example 5. Records of the operating lease charges on financing Assumptions example as in example 2.

The lessor opens in team 7 separate account "Adjustment of income" 8) and posts (in PLN): 1. Invoice: Wn account "accounts receivable" is 366 thousand.

Have a "sales revenue"-300 thousand.

Has an account "accounts payable VAT public law"-66 thousand.

2. Settlement of part of the revenue at the time: Wn account "Adjustment of income"-165 thousand.

Has an account "deferred revenue".

3. once actually invoiced is charged will be lower than 135 thousand. zł, it will supplement by: Wn account "accrued income" account "Adjustment of income".

Application of point VI. 3: example 6. Determining the depreciation of the leased asset for using the licensee has entered into an agreement of financial leasing a new, specialized truck. The duration of the lease is 4 years. The initial value of the subject-matter of the contract is $226 916.

Leasing agreement provides the transfer of ownership of the leased asset to the lessee at the end of its term. In this case, the depreciation period of the leased item should match the period used in the determination of depreciation of their own, similar fixed assets. Assuming that using absorbs its own vehicles on a straight-line basis over a period of five years (20%), depreciation will be: – the annual depreciation allowance for the duration of the lease: 20% of the initial value = 0.20 x 226 916 € = 45382.20 $; a copy of the monthly: $45382.20 ÷ 12 = $3781.93.

Application of point VI. 5: example 7. Accounting for the leasing fees on the part of the capital and interest Selected elements of the finance lease: the lease Agreement provides for 3 years.

The net value of the subject-matter of the contract-100000.00 zł.

Schedule of fees (in PLN): charged (net) – 10000.00 – the sum of the basic fees for one year contract-30000.00 charged final-15000.00.

The internal rate of return is equal to the discount rate that equates the value of the subject-matter of the contract, pomniejszonąo fee ($ 100000.00-10000.00 zł = 90000.00 $) with the sum of lease payments (30000.00 zł for the first year of the contract, 30000.00 zł for the second year, 30000.00 $ + 15000.00 zł for a third year). To carry out the calculations, you can use the IRR function (or XIRR) spreadsheet. In the example, the IRR = 7,5514725%.

 

 

 

 

 

(in $)

Year term Commitment BECAUSE the leasing Fee part of the interest portion of the capital commitment of the BZ 1 2 3 4 (3-5) 5 (2xIRR) 6 (2-4) 0 starting point of the lease 100000.00 100000.00 (initial) 10000.00 0 1 90 90000.00 000.00 30000.00 23203.67 6796.33 66796.33 2 66 796.33 41840.44 5044.11 24955.89 840.44 3 41 30000.00 30000.00 15000.00 3159.57 26840.44 Moment of the completion of the lease 15000.00 15 000.00 15000.00 0 0 the use of point VI. 14: example 8. The extension of the lease Agreement lease provides for 7 years (period of economic usefulness of the leased asset is 12 years old). After 5 years of duration of the contract the parties agreed to extend the lease for 10 years. On the day changes the duration of the agreement, the balance of trade of the leased asset was $50000.00, and the net value of the subject-matter of the contract – £ 55000.00. Use to apply the linear depreciation method. The agreement did not provide for the leasing item to przechodziłna beneficiary ownership, because depreciation was accounted for by the duration of the contract.

The agreed schedule of fees was as follows (in PLN): years 6 year 7 year 8 year 9 year 10 year 12 000 12 000 11 000 11 000 10 000 is the leasing fee capital on the part of the Beneficiary and interest using the internal rate of return.

The internal rate of return, calculated using a spreadsheet, is 0.0402511.

 

 

 

 

 

(in $)

Year term Commitment BECAUSE the leasing Fee part of the interest portion of the capital Commitment BZ 6 50 000.00 12000.00 9987.44 2012.56 7 40 40012.56 012.56 10389.45 29623.11 1610.55 12000.00 8 29 1192.36 9807.64 9 19 19815.77 11000.00 623.11 815.77 9613.06 797.59 10202.41 11000.00 10 9 613.06 9613.06 10000.00 386.94 0 Adjusted depreciation established as a result of the verification of the depreciation period, are as follows: £ 55000.00 to 5 years = 11 000/year.

Application of point VI. 14: example 9. Shortening the period of the lease Agreement lease provides for 7 years period of economic usefulness of the leased asset is 10 years after termination of the agreement the ownership of the leased asset passes to the lessee. After 3 years of duration of the contract the parties to the agreement have agreed to shorten the period of the lease for 6 years. The balance of the liability for the subject of the contract of leasing on the day changes of the lease was $30000.00, and the net value of the leased asset-36000.00 zł. Use to apply the linear depreciation method.

The agreed schedule of fees was as follows (in PLN): years 4 years 5 years 6 years 11 000 11 000 11 000 Using the leasing fee is on the part of the capital and interest using the internal rate of return.

The internal rate of return, calculated using a spreadsheet, is 0.0492123.

 

 

 

 

 

(in $)

Year term Commitment BECAUSE the leasing Fee part of the interest portion of the capital Commitment BZ 4 30 20476.37 1476.37 9523.63 11000.00 000.00 5 20 476.37 9992.31 10484.06 1007.69 11000.00 6 10 484.06 10484.06 11000.00 515.94 0 do not there is a change in the depreciation period, as against the projected to obtain ownership of the leased item, it is depreciated, as their own fixed assets using-rate of 10%.

Application of point VI. 15: example 10. Settlement of finance lease obligations in the event of loss of the leased asset Benefiting as a result of the fire, has lost the subject of the lease. Lease has expired, the financing order that uses the amount of 150 000 € (it is the sum of the discounted lease payments remaining, according to the agreement, the subject of the lease passed upon the expiry of the agreement free of charge to the lessee). On the day of expiry of the agreement the licensee was in the accounts of the balance of obligations to the lessor in respect of lease – 160 000. The net value of the leased asset on this day was 120 000. The subject of the lease was covered by insurance and leasing agreement provided for the transfer of compensation to the lessor. In the next reporting period, funding obtained within the framework of assignment of compensation in the amount of 100 000: a) at the time of the loss of the leased asset using eliminates it-NET (Wn "other operating expenses", Has "fixed assets" 120 000), b) on the expiry of the leasing contract using compensates for the effects of the expiry of the leasing contract, reducing liability for the subject of the contract (160 000) up to the amount of the liability for termination of the contract (150 000). The amount of the reduction commitments ($ 10,000) refers to other operating income (Debit account "accounts payable financing in respect of the subject matter of the contract"),


(c)) at the time of receipt by the lessor compensation (on the basis of the information obtained from the insurance undertaking or the lessor) who use reduces the amount of compensation (100 000) their commitment to financing (Wn "accounts payable financing in respect of the subject matter of the contract"), to put them drugostronnie as other operating income.

In the example, the loss caused by the loss of the leased asset is 10 000 (120 000 – 10 000 – 100 000).

The application of paragraph VII. 13: example 11. Settlement of finance lease receivables in case of loss of the leased asset Benefiting as a result of theft of lost item of financial leasing. Lease has expired, and the financing order that uses the amount of 150 000, corresponding to the value of the leased asset and the lost-as a result of the expiry of the agreement – benefits. The subject of the lease was covered by insurance, and leasing agreement provided for the transfer of compensation to the lessor. In the next reporting period, financing obtained, as the transfer of compensation-amount of 100 000 €.

The lessor shall be reduced by the amount due in respect of the subject matter of the contract (150 000) of the amount of compensation received (100 000). The balance of claims arising from the subject matter of the contract, the lease after skompensowaniu with the amount of compensation received ($ 50,000)-if the amount of the questionable-copy updating.

The application of paragraph VIII. 3. Example 12. Accounting for losses on the sale of the subject of the contract in the case of operating lease reuptake Using contracted operating lease reuptake and sold the subject matter of the contract loss, agreeing on the financing lease payments at a level lower than the market. The net value of the subject-matter of the contract was $50000.00, sale price $40000.00. Operating lease back agreement provides for 3 years. Schedule of fees was as follows (in PLN): 1 year 2 year 3 year Time 16000.00 15000.00 14000.00 45000.00 Settlement losses on the sale of the subject of the contract in proportion to the lease payments is as follows (in PLN): 1 year 2 year 3 year (16000.00 ÷ 45000.00) x 10000.00 = 3555.56 (15000.00 ÷ 45000.00) x 10000.00 = 3333.33 (14000.00 ÷ 45000.00) x 10000.00 = 3111.11 Apply paragraph VIII. 4 : Example 13. Settlement of loss on the subject matter of the contract in the case of financial lease reuptake Unit has entered into a leaseback classified as financial leasing for a period of 10 years. The net value of the subject-matter of the contract on the day of its disposal from financing the $70000.00 was., sale price – 60 000.

Settlement of losses on sales for the duration of the lease is as follows: (70 000 – 60 000) ÷ 10 years = $1000/year.

The application of paragraph XII. 2 and paragraph XII. 3: Example 14. Simplified method of Division of leasing fees on the part of the capital and interest Assumptions example as in example 7.

Regular method (linear) part of the leasing fee finance charge per each contract period (in PLN): ΣCO = [(10 000.00 + 3 x 30000.00 15000.00 +)-100000.00] = 1 5000.00 CO = 15000.00:3 = 5000.00 (in PLN) Year term Commitment BECAUSE the leasing Fee part of the interest portion of the capital Commitment BZ 0 (lease contract) 100000.00 10000.00 (initial) 10000.00 0 1 90 90000.00 000.00 30000.00 25000.00 5000.00 65000.00 2 65 000.00 30000.00

25000.00 3 40 30000.00 000.00 40000.00 5000.00 15000.00 15000.00 Lease Termination 5000.00 25000.00 15000.00 15000.00 0 0 RB approximate (sum of numbers) using the method of the sum of the leasing fee break numbers on part of the capital and interest shall be as follows: (in PLN) Year term Commitment BECAUSE the leasing Fee part of the interest portion of the capital Commitment BZ 0 (lease contract) 100000.00 10000.00 (initial) 10000.00 0 1 90 90000.00 000.00 30000.00 22500.00 (3 ÷ 6) x 15000.00 = 2 67 67500.00 7500.00 500.00 30000.00 25000.00 (2 ÷ 6) x 15000.00 = 5000.00 3 42 42500.00 500.00 30000.00 27500.00 (1-6) x 15000.00 15000.00 15000.00 Lease Termination 2500.00 = 15000.00 15000.00 0 0 Apply paragraph XII. 4.: example of a 15. To take into account exchange rate EUR change of course EUR per additional payment terms does not-as mentioned-the conversion of the originally adopted the initial value of the asset. Change of course EUR affect the amount of the obligations of the lease, carried on the balance sheet day. Running-in the present case, should also take a decision on the selection of the method of allocation of the leasing fees on the part of the capital and interest. Division of lease payments on the part of the capital and interest (for the next three terms of payment) by the method of the sum of the numbers assuming constant exchange rate (EUR 4.4 PLN/EUR) in the following maturity dates is as follows (in PLN): payment term Commitment BECAUSE the interest portion of the leasing Fee part of the equity Commitment BZ 0 (lease contract) 226 700 (225 000 + 1700) 36700.02 0 36700.02 (35 000 + 1 700) 1,189,999.98 189,999.98 4999.98 2122.41 2877.57 2,187,122.41 187,122.41

4999.98 2078.19 2921.79 2033.98 4999.98 3,184,200.62 184,200.62 181,234.62 2966.00 Actual EUR per second term of payment is 4.3 PLN/EUR. Actually suffered the leasing fee determined on the basis of the course of 4.3 PLN/EUR is 4886.35 PLN (1136.36 EUR x 4.3 PLN/EUR).

The difference between the originally fixed fee (based on the course of the contract) and the charge actually suffered is 113.63 and decreases the interest portion of the leasing fee determined originally (2078.19) to the amount of $1964.56. Originally established the repayment of part of the holding company and the value of the liability at the end of the second period of the contract is not affected.

(in $)

The payment term of the Commitment BECAUSE the interest portion of the leasing Fee Part 4886.35 2921.79 1964.56 2,187,122.41 BZ Commitment capital 184,200.62 the obligation at the balance sheet date (assuming it occurs after the second payment period) is as follows:-the subject of the contract obligations in euro according to the exchange rate of the date of the agreement 184,200.62 £ ÷ £ 4.4/EUR = 41863.78 EUR , is a liability for the subject of the contract converted according to the exchange rate at the balance sheet date 41863.78 EUR x 4.3 PLN/EUR = 180,014.25.

The difference between the originally determined commitment and obligation at the balance sheet date, przeliczonym-4186.37 (184,200.62-180,014.25) provides financial income.

Annex 1 example of the ADAPTATION of PARTS A-F in the profit and loss account (a VARIANT of the SPREADSHEET) to the SPECIFICITIES of the UNITS ENGAGED in the LEASING and revenue net sales of products, goods and materials, including:-from related entities: i. net income from the sale of leasing services. Income from financial leasing II. The net revenues from the sale of goods and materials, and the profit from the sale of the lease item (B). the cost of products sold, goods and materials, including related units: i. Depreciation and other costs related to the cast in leasing assets II. The value of sold goods and materials, and a loss on the sale of the lease item (III). The financial costs to handle the purchase items of leasing (lease objects value niezwiększające) c. gross profit (loss) on sales (A-B) D. Selling expenses e. administrative expenses f. profit (loss) on sales (C-D-E).

 

 

1) Fee to use, in the case of leasing contracts – is the obligation to pay by using a single charge lease or a series of lease payments.

2) Understood here as the final fee.

3) internal rate of return (IRR. Internal Rate of Return) is the discount rate that equates the present value of lease payments to the value of the subject-matter of the contract of leasing. In the event of irregular payment periods shall apply the XIRR method. Conveniently is the internal rate of return calculated by using a spreadsheet.

4) lease that contains an option to purchase and is due to the provisions of the income tax Act, the nature of financial leasing is – for the purposes of the goods and services tax – supply of goods.

5) Leasing Contract that contains an option to purchase and under the provisions of the income tax act is a finance lease, is – in accordance with the provisions of goods and services tax – supply of goods.


6) Using fixed the value of operating lease on the basis of the information provided to him by the lessor, and in their absence or for unbelievable – based on market prices for similar item.

7) if the fees are payable in advance, is the sum of the numbers of time limits shall be calculated using the formula 8) this account is to help you determine the amount of deferred income tax and tax settlements.

Annex 2 CLASSIFICATION of LEASING CONTRACTS, rent and lease ADOPTED as standard

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