Leasing arrangements take a variety of forms and can include the lease of a single asset or a group of assets. A lease may also be part of a larger overall arrangement.
Lessees classify leases as either operating or capital leases; lessors classify leases as operating, sales-type, direct financing, or leveraged leases. The classification determines presentation and disclosure.
This chapter discusses lessees’ and lessors’ presentation and disclosure requirements for various types of leases. It also discusses presentation and disclosure for certain arrangements that are leasing transactions in form, but not accounted for as leases, such as sale-leaseback transactions when sale recognition criteria are not met.

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