ACCOUNTING ASPECTS OF THE ACQUISITION OF
          TANGIBLE ASSETS THROUGH LEASING

                        Ionela Cornelia Stanciu, PhD Student
                         „Valahia” University of Târgovişte
                               s_ionela09@yahoo.com

                           Nicolae Todea, Professor PhD
                    „1 Decembrie 1918” University of Alba Iulia
                                 ntodea@uab.ro


ABSTRACT: The present paper approaches problems on lease operations. A lease is
an agreement whereby the lessor conveys to the lessee in return for a payment or
series of payments the right to use an asset for an agreed period of time. A finance
lease is a lease that transfers substantially all the risks and rewards incident to
ownership of an asset. Title may or may not eventually be transferred. A lease
classified as an operating lease if it does not transfer substantially all risks and
rewards to ownership. Since the transaction between a lessor and a lessee is based on
a lease agreement commom to both parties, it is appropriate to use consistent
definitions. The application of these definitions to the differing circumstances of the
two parties may sometimes result in the same lease being classified differently by
lessor and lessee.

Keywords: Leasing, lessor, finance lease

JEL Codes: M 41, O10