Recognition of leasing transactions according to TFRS/FRS for LMS and TPL

To be able to meet the new needs of an enterprise that arise over time, or to develop, grow the enterprise, etc. in such cases, it needs a number of investments. However, it is not always possible to meet these needs with self-resources. In such cases, enterprises benefit from the financial leasing system. As is known, financial leasing transactions are a long-term investment agreement in which the ownership of the leased asset is with the lessor and the right to use it is with the lessee. At the end of the lease period, there is also a situation such as the ownership of the leased asset remains with the lessor or is transferred to the lessee. As a result of these situations, various differences arise in the accounting of leasing transactions. The purpose of this study is to determine the accounting of leasing transactions in terms of the national tax curriculum and the accounting standards in force for some business circles in our country, which accounts are used when accounting and what kinds of differences are revealed in accordance with these regulations. In this study, the differences between the accounting records made within the scope of TFRS/FRS For LMES and Tax Procedure Law will be determined with the help of sample applications according to the method used in the accounting of financial leasing transactions. The accounting records of the transactions that will be made at the end of the contract from the moment the leasing process starts from the point of view of the lessor and the lessee will be analyzed comparatively within the scope of these three methods. Keywords: Financial Leasing, Operating Leasing, Lessee, Lessor.