GRAP 13 - Leases - Lessor

CPD hours:  1

Leases are a common way for public sector entities to access and use assets without owning them outright. But how these leases are accounted for in the records of the lessor—the entity providing the asset—depends on the nature of the lease agreement.

In this video, we will introduce you to the accounting treatment of leases from the lessor’s perspective, in line with GRAP 13, or Generally Recognised Accounting Practice 13. This standard helps ensure that lease transactions are recorded in a way that reflects their economic substance and supports transparent financial reporting.

What you will learn

By the end of this course, you will be able to:

• Explain what a lease is.
• Explain the three types of leases a lessor can enter into per GRAP 13.
• Explain how to account for an operating lease in the lessor’s records.
• Explain how to account for a finance lease in the lessor’s records.

Important information

Please take note of the following important details regarding your course access and certification:

• Certificates will be issued on the date of successful completion of the assessment and will reflect that date.
• Course access is valid for 12 months, after which the course will close.
• No updates will be made to the course during the 12-month access period. If updates become available, they will be released in a new course available for purchase on our website.
• For the Altimax terms and conditions, please refer to our website.