The 7.5 hours in the classroom are just the starting point. On average, teachers are at school an additional 90 minutes beyond the school day for mentoring, providing after-school help for students, attending staff meetings and collaborating with peers.
A capital lease is treated like a loan, and the asset is considered owned by the lessee. The tax advantages of operating leases are especially significant for fixed assets such as lighting that are generally depreciated over a very long term (39 years), since the entire lease payment is tax deductible.
Finance lease. Lessee-The asset and a corresponding liability are recognised initially at fair value or the present value of minimum lease payments if lower. A finance charge is recognised over the period of the lease.Lessor-The asset is derecognised and a receivable recognised, initially equal to the net investment in the lease.AS 17 Leases sets out the appropriate accounting policies and disclosure to apply in relation to leases in the financial statements of both lessees and lessors. Revised December 2003. Effective 1 January 2005.