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Insurance paid for finance lease can be part of finance lease or not?

Co A obtains car on finance lease & it is necessary to insure it as per agreement. The cost of insurance at the time of contract & in subsequent years should be part of IDC or not?

Accounting Auditing Financial Reporting IFRS Economics
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Question added by Abu Bakar Ashfaq , Senior Consultant , PricewaterhouseCoopers Middle East
Date Posted: 2016/07/26
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Rafey Abdul
by Rafey Abdul , General Accountant , SAP & KAPS Petroleum Services LLC

As per IAS 17, insurance can not be a part of Finance lease.

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