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Financial Reporting for Lease Transactions : A company leases equipment under operating leases and finance leases (capital leases). Discuss the accounting treatment and financial reporting

Financial Reporting for Lease Transactions: A company leases equipment under operating leases and finance leases (capital leases). Discuss the accounting treatment and financial reporting requirements for both types of leases under relevant accounting standards, such as ASC 842 (US GAAP) or IFRS 16. Analyze the impact of lease classification on the lessee's financial statements, including balance sheet presentation, income statement recognition, and cash flow disclosures.

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