Page 146 - IC26 LIFE INSURANCE FINANCE

 General description of the significant leasing arrangement

 Accounting policy for initial direct cost

 Reconciliation of total gross investment in lease and present value of minimum lease

payment (MLP) receivable at the balance sheet date

 MLP receivable in following categories

 not later than one year

 later than one year and not later than five years

 later than five years

 In the books of lessee in case of operating lease

 General description of the significant leasing arrangement

 Total of future minimum lease payments in the following period

 not later than one year

 later than one year and not later than five years

 later than five years

 Lease payments recognized in profit & loss account for the period

 In the books of lessor in case of operating lease

 General description of the significant leasing arrangement

 Accounting policy for the initial direct payment

 Future lease payments in aggregate classified as :

 Not later than one year

 later than one year and not later than five years

 later than five years

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