Issues arising in applying the IFRS 16.5 concession that an issuer not apply its requirements to leases for which “the underlying asset is of low value…” We previously discussed this here, providing some of the IASB’s underlying thinking: “…many lessees expressed concerns about the costs of applying the requirements of IFRS 16 to leases that are…
Rattling around in the murky corners of IFRS 16… Here’s another issue discussed in the past by Canada’s IFRS Discussion Group: In many cases, a lessee will enter into a lease agreement to rent space from a lessor. The lease agreement specifies that the lessee has an obligation at the end of the lease term,…
As we’ve discussed on many past occasions, the IASB has issued IFRS 16 Leases, effective for annual reporting periods beginning on or after January 1, 2019. We looked here at some matters relating to determining the lease term. This is: the non-cancellable period of a lease, together with both: (a) periods covered by an option…
The Canadian IFRS Discussion Group recently returned to the issue of cloud computing arrangements, revisiting its previous discussion in the light of new IFRS 16, among other things. The group had already provided the following examples of such arrangements: Software as a service – This arrangement is a software distribution model where applications are hosted…
The IASB recently published an “Implementation Update” on IFRS 16 Leases In the document, “four IASB Members discuss messages they have heard from stakeholders about IFRS 16 implementation over the last year and give advice to companies implementing the new Standard.” Much of this messaging really only consists of emphasizing various bits of the standard,…
As we discussed here, the IASB has issued IFRS 16 Leases, effective for annual reporting periods beginning on or after January 1, 2019. We’ve already covered the main aspects of lessee accounting in a series of articles. But let’s go back and examine the question of when you even have to worry about the standard.…
As we discussed here, the IASB has issued IFRS 16 Leases, effective for annual reporting periods beginning on or after January 1, 2019. We’ve covered the main aspects of lessee accounting in a series of articles. It’ll only take this one post though to cover the other side of the transaction, the implications for lessors.…
As we discussed here, the IASB has issued IFRS 16 Leases, effective for annual reporting periods beginning on or after January 1, 2019. We’ve already discussed some of the issues arising in identifying at inception of a contract whether that contract is a lease, or contains a lease, in determining the lease term, and in measuring the lease…
As we discussed here, the IASB has issued IFRS 16 Leases, effective for annual reporting periods beginning on or after January 1, 2019. We’ve covered the main aspects of the accounting model for lessees in various previous posts. Let’s look now at the mechanics of making the transition to the new standard. As a practical…
As we discussed here, the IASB has issued IFRS 16 Leases, effective for annual reporting periods beginning on or after January 1, 2019. We’ve already covered the main aspects of the accounting model for lessees. Here now is what the standard has to say about presentation: A lessee shall either present in the statement of…
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