Right of Use Assets relates to the new Leasing Standards. You need to show any lease commitment that is for a period over 12 months on your books. The asset is shown as a Right of Use. This is depreciated over the life of the asset as the lease term diminishes. A corresponding liability called Lease Liability is reflected in the accounts too. So yes it is someone else's asset but we are depreciating our 'right' to use it
Right of Use Assets relates to the new Leasing Standards. You...
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