In an operating lease, the Lessor (or owner) transfers only the right to use the property to the Lessee. At the end of the lease period, the Lessee returns the property to the Lessor. Since the Lessee does not assume the risk of ownership, the Lease expense is treated as an operating expense in the income statement and the lease does not affect the balance sheet.
In a financial (capital) lease, the Lessee assumes some of the risks of ownership and enjoys some of the benefits. Consequently, the lease, when signed, is recognized both as an asset and as a liability (for the lease payments) on the balance sheet. The firm gets to claim depreciation each year on the asset and also deducts the interest expense component of the lease payment each year. In general, capital leases recognize expenses sooner than equivalent operating leases.
Leasing is a contractual relashionship by which a Lessee can obtain the use of a certain fixed assets (Leasing subject) property of Lessor for which it must pay a series of contractual, periodic, tax ...
Lessee: choises the leasing object at suppliers by himself and agrees with a supplier all the purchase elements and then addresses to UniCredit Leasing in order to finance the purchase.
UniCredit Leasing d.o.o.: Society which is registered for leasing activities that puts a leasing object to Lessee's disposal who on his side adopt all related risks.
Supplier: sells leasing object (chosen by Lessee) to UniCredit leasing
