Question: Which statement is correct? The leased asset should be depreciated using the lease term if the asset is kept by lessee. Accounting treatment for lease

Which statement is correct? The leased asset should be depreciated using

Which statement is correct? The leased asset should be depreciated using the lease term if the asset is kept by lessee. Accounting treatment for lease in lessee's books is exactly the same under ASPE and IFRS. Cash flow in the Lessee's company will not change if the lease contract is classified as capital or operating Lease. If lease contract is classified as operating lease, then the depreciation expense on leased asset will be recorded in the lessee's book DOLL

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