Aliyev Adalat Zeynal
The subject of the article is the analysis of the practice of reflecting leasing operations in financial statements. The object of the study is the existing system in Azerbaijan of accounting for financial lease agreements between the parties to the lease agreement on accounting accounts. At the same time, serious attention is paid to the activities of Azerbaijani leasing organizations engaged in financial leasing. The theoretical and practical basis of the study was the fundamental concepts and approaches presented in the works of both domestic and foreign authors, scientists in the field of legal and accounting regulation of transactions under lease agreements, legislative and regulatory acts of the Republic of Azerbaijan. Statistical and analytical materials, periodicals, monographs, dissertations, Internet publications of official sites were used as a research database. The practical significance of the study lies in the development of practical provisions and recommendations for accounting and reporting by the lessee of operations under financial lease agreements, aimed at solving the problems of ensuring the reliability of financial statements and adapting them to international accounting standards. It proposes an algorithm for adjusting transactions under financial lease agreements in the Azerbaijani accounting registers of the lessee, which meets the requirements of IFRS. The main proposals mentioned in the article are recommended as a methodological support that allows organizations engaged in financial leasing to optimize their financial reporting costs in accordance with IFRS.