The model of accounting and taxation for the leasing business proposed by the researcher has two components, an accounting component and a taxation component as described in what follows .
Accounting :
Accounting records should be kept by reference to company policy requirem ents, which differ from accounting standards. The classification of types of contracts for accounting records depends on the objectives ofleasing business companies .
Taxation:
The records kept by these leasing compames for taxation purposes should be based on accounting methods precisely parallel to those used in maintaining ordinary company accounts.