Syllabus B4

• Account for right of use assets and lease liabilities in the records of the lessee
• Explain the exemption from the recognition criteria for leases in the records of the lessee
• Account for sale and leaseback transactions in the financial statements of lessees.
• Explain the distinction between operating leases and finance leases from a lessor perspective.
• Account for operating leases and finance leases in the financial statements of lessors.