How to Record Fixed Assets

[Omeir]

Can anyone please guide me in light of IAS, how to record assets purchased through ijarah?

[Salmancert]

Ijarah? isn't it lease in Islamic Banking

The Treatment is same as for Leased Assets under IAS 17 Leases and IAS 16 PPE. If you need further details please post.

[aamalik]

Yeah... Now depend whether finance or operating lease

Asset Subject to Lease
To Lease Liablity

will be the accounting entry in case of former

[Omeir]

@ Salaman,

If you can, please explain what would be the accounting entry for recording such asset?

[Rithika]

Fixed assets is the long term asset. Depreciation would be the better method that allows the firm to spread the cost of the fixed asset. If it's under a lease then you're ought to care on the assets.