Various forms of investment goods acquisition financing are available to companies at present. Aside from loans, as one of the ways of financing, leasing has become increasingly popular method of investment goods purchase financing. The main feature of the leasing is that the leasing provider leases certain assets to the leasing user through the leasing contract. By the leasing contract, the leasing user is obligated to pay a certain financial compensation to the leasing provider for the entire duration of the leasing contract. Unlike loans, the purpose of leasing is to enable the leasing user to use the asset or the leasing object, while the issue of ownership over leased property is a secondary matter. Most often, leasing is used to purchase equipment, machinery, personal and commercial vehicles, marine vessels and recently, the acquisition of real estate. As one of the advantages of leasing is that it does not require any investment of own resources but allows the user a payment plan according to his capabilities. This way, entrepreneurs are enabled to quickly replace the technologically outdated assets, or leasing objects, which contributes to greater competitiveness in an increasingly demanding market. There are two types of leasing available to entrepreneurs: financial leasing and operational leasing. When making a decision on the cost-effectiveness of a particular form of leasing as a way of financing, additionally to the comparison of different means of financing, an enterprise should also consider the impact of the particular form of financing on the company's balance sheet, i.e. the indebtedness indicators. Based on the currently applicable regulations in the Republic of Croatia, this paper will present the accounting and tax aspects of financial and operational leasing, pointing to their advantages and disadvantages.