Subject This article examines the Russian Accounting Standards for lease agreements, set out in the new Federal Accounting Standard FAS 25/2018 Accounting for Lease, which is mandatory for use, starting with accounting (financial) reporting for 2022. Objectives The article aims to study and compare the new Russian Accounting Standards for lease agreements and international requirements described in IFRS 16 Lease, in order to identify the common and differences. Methods For the study, I used the categorical and systems approaches, and the methods of analysis, comparison, and expert estimates. Results The article reveals the essence and types of lease agreements, the procedure of accounting by the lessee and the landlord in accordance with the new lease agreement accounting standards. Conclusions and Relevance The article concludes that FAS 25/2018 Accounting for Lease is developed on the basis of IFRS 16 Lease, the provisions of the Russian standard are almost identical to the international accounting standards for lease agreements. The information presented in the article develops both the theory and practice of accounting, and can be of interest to accountants and managers of organizations, and applied in the educational process.
Keywords: lease, lessor, lessee, accounting, IFRS
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