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学び始める
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Contract that gives the right to use an underlying asset for a period of time in exchange for consideration. 'contract'
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学び始める
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The entity that provides the right-of-use asset and - in exchange - receives consideration. 'provides the right-of-use asset'
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学び始める
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The entity that obtains use of the right-of-use asset and - in exchange - transfers consideration.
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A contract contains a lease if it gives the right to control the... 3cz 学び始める
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the use of an identified asset | for a period of time | in exchange for consideration.
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A contract contains a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration. For this to be the case, the contract must give customer two rights: 2 | Identifying a lease 学び始める
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The right to substantially all of the economic benefits from use of the identified assets and | the right to direct the use of the identified asset. direct - kierować
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Lessee accounting - initial treatment. Basically, the lessee should recognize a liability and a right-of-use asset at the commencement of the lease: Liability at present value at total of: | Right-of-use asset at total of: 学び始める
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Fixed payments | Variable payments, | Purchase options* | Termination penalties. | Residual Value guarantee*. Initial liability value. | Payments at commencement. | Direct costs of acquisition. | Dismantling costs A residual value guarantee is when the lessor is promised that the underlying asset at the end of the lease term will not be worth less than a specified amount.
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The CA of the lease liability is increased by ...? Lessee accounting - subsequent treatment. 学び始める
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The CA of the lease liability is increased by the interest charge. This interest is also recorded in...? Lessee accounting - subsequent treatment. 学び始める
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The CA of the lease liability is reduced by...? Lessee accounting - subsequent treatment. 学び始める
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The right-of-use asset is normally measured using ... model. This means it is measured at ... less ...... Lessee accounting - subsequent treatment. 学び始める
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using cost model. This means it is measured at its initial cost less accumulated depreciation and impairment losses.
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Exceptions. The lessee can choose to recognise the lease payments in the PoL on a straight line basis if the lease is ...? 2 Lessee accounting - subsequent treatment. 学び始める
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is short-term* | or of a low value. * less than 12 months at the inception date.
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Leases must be classified at inception as either... 2 学び始める
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a finance lease | or an operating lease. Finance lease - where the risk AND rewards of ownership transfer to the lessee. | Operating lease - a lease which is not a finance lease.
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IFRS 15 gives the following indications that the risks and rewards of ownership have transferred to the lessee: 5 学び始める
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Ownership is transferred at the end of the lease.| Lessee has the option to purchase the asset at the end of a lease for less than FV.| Lessee can continue to lease the asset at the end of a lease for less than market rents. OPC The lease term is for the major part of the asset's life. | The PV of the minimum lease payments are substantially all of the FV of the leased asset.
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Under a finance lease, the lessor must: 3 学び始める
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Derecognise the leased asset. | Recognise a lease receivable at the PV of the minimum lease payments*. | Recognise income on the lease receivable using the rate implicit in the lease. *plus estimated unguaranteed residual value of the asset.
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Under a operating lease, the lessor must: 3 学び始める
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Continue to recognise | and depreciate the leased asset. | Recognise lease rental income in PoL on a straight line basis.
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The treatment of a sale and leaseback depends on whether whether the 'sale' represents the... 学び始める
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whether the 'sale' represents the satisfaction of a performance obligation. (as per IFRS 15 Revenue from Contracts with Customers)
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Accounting treatment of for seller-lessee, if transfer is NOT a sale. 2 | Sale and leaseback 学び始める
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Continue to recognise asset. | Recognise a financial liability equal to proceeds received.
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Accounting treatment for a seller-lessee if transfer IS a sale. 4 | Sale and leaseback 学び始める
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Derecognise the asset. | Recognise a right-of-use asset as the proportion of the previous CA.*| Recognise a lease liability. | A PoL on disposal will arise. *that relates to the rights retained.
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Accounting treatment for buyer-lessor if transfer is NOT a sale. 2 | Sale and leaseback 学び始める
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Do not recognise the asset. | Recognise a financial asset equal to transfer proceeds.
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Accounting treatment for buyer-lessor if transfer IS a sale. 2 | Sale and leaseback 学び始める
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Account for the asset purchase. | Account for the lease by applying lessor accounting requirements.
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Lessee accounting - initial treatment. Basically, the lessee should recognize two categories of items: 2 学び始める
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Liability at present value at TOTAL of... | Right-of-use asset at TOTAL of...
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学び始める
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Where the risk and rewards of ownership are transferred to the lessee.
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Operating lease definition: 学び始める
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A lease which is not a finance lease.
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