Leasing sebagai Alternatif Sumber Pembiayaan Perusahaan

Abstract

Leases can be separated into two polar types. Though operating leases allow the lessee to use the equipment, ownership remains with the lessor. Although the lessor in a financial lease legally owns the equipment, the lessee maintains effective ownership because financial leases are fully amortized. When a firm purchases an asset with debt, both the asset and the liability appear on the firm’s balance sheet. If a lease meets at least one of a number of criteria, it must be capitalized. This means thet the present value of the lease appears as both an asset and a liability. A lease escapes capitalization if it does not meet any of these criteria. Leases not meeting the criteria are called operating leases, though the accountant’s definition differs somewhat from the practitioner’s definition. Operating leases do not appear on the balance sheet. For cosmetic reasons, many firms prefer that a lease be called operating.