UK Help with depreciation of a lease for a functional budget?


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Hello guys,

New to the forum here. I'm currently studying my HND in accounting and I'm doing the graded unit 2 project at the moment. We've not been given any help by our lecturers and I'm currently stuck with the functional budget.

So me as a company is leasing a plane over a five year period. I was just wondering whether I need to account for the depreciation in the functional budget or do I not account for the depreciation as the plane will be going back to the leasing company after 5 years?
 
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The following article will give you valuable input and the answer to your question:
 

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