“RENTAL AND LEASING ACCOUNTING PRACTICES IN UZBEKISTAN: A COMPREHENSIVE OVERVIEW AND FUTURE DIRECTIONS”

Abstract

Definition of rental and leasing accounting: rental and leasing accounting is the systematic process of recording, classifying, and reporting financial transactions related to rental and leasing agreements. This practice encompasses various arrangements where one party (the lessee) pays for the right to use an asset owned by another party (the lessor) for a specified period. These agreements can involve tangible assets such as real estate, machinery, vehicles, and equipment. The accounting for these transactions is crucial as it affects the financial position and performance of businesses, influencing key financial metrics and stakeholders' decisions.