Financial Terms Glossary

FRS 17

Formal

A document outlining Accounting and Reporting standards to be followed by companies. This covers the requirement to report Capital Leases and Operating Leases in a manner that reflects the true nature of the contract and does not distort the financial position.

Informal

How can this possibly be made funny? See separate definition - and get serious. PS - It does stop clever companies hoodwinking people like you and me about how much capital they really do have invested in their businesses.

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