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Abstract

Leasing is an alternative source of finance in Nigeria, the importance of leasing in capital investment in the world over cannot be over emphasized, but is yet to take a firm root in Nigeria, this is because, this is because the syndrome of owning everything is still in vogue in the country, the credit evasive is still very high in Nigeria, this singular reason account t for the low patronage of leasing as an alternative source of finance in the country, leasing has many definitions, but the legal definition as  given by the statement of accountancy no ii. Says“leasing is a contractual agreement between owner (lessor) and another party the (lessee)” which conveys to the lessor, the right to use the leased asset for a consideration, usually a periodic charge called rentals. 
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An assessment of accounting system in the leasing industry