ACCOUNTING OF LEASING OPERATIONS FOR THE LESSEE
This article presents the theoretical study of the economic essence of leasing and offers practical advice on improving the method of accounting for leasing transactions for the lessee. We have identified leasing as a specific type of business, which involves the transfer for a fee, for a specified period and the relevant conditions specified in the contract, by the lessor for temporary use of property which was acquired specifically for the lessee with a purchase option. Science-based recommendations to improve approaches to methods of accounting for leasing transactions and use of analytical accounts to show leasing for the lessee have been proposed: 9491 "Costs of operating lease"; 011 "Non-current assets acquired for leasing"; 5311 "Long-term liabilities from financial leasing."