Meaning
Difference with Installment payment system
Recording of transaction in the books of buyer
Allocation of interest
Use of Interest Suspense a/c
Partial and complete repossession Books of Seller
Stock and Debtors A/C ( with repossession) Books of Seller
H.P. Trading A/C without HP Sales and HP Debtors and General Trading A/c ( with repossession)
Concept of operating and financial lease
Basic concept only