Accounting for equipment leases is the process of tracking and recording expenses related to a business’s leased equipment. This includes analyzing current lease liabilities and amortizations, monitoring potential changes in the value of future lease payments, and understanding the impact of new leasing arrangements on financial statements. By keeping accurate records of these transactions, businesses can ensure that they stay up-to-date with the latest standards and regulations surrounding their accounting practices – while also freeing up working capital and minimizing risks associated with owning leased equipment.