Cloud computing arrangements – from both sides now

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…

IFRS 16 – oddities of the transition process

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,…

New leases standard – defining the scope

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.…

New leases standard – lessor accounting

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.…

New leases standard – what to disclose

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…

New leases standard – making the transition, part 1

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…

New leases standard – presentation

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…

New leases standard – measuring the lease asset

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…

New leases standard – measuring the lease liability, part two

As we discussed here, the IASB has issued IFRS 16 Leases, effective for annual reporting periods beginning on or after January 1, 2019. Last time we discussed some of the issues relating to initially measuring the lease liability. This is what it says about subsequent measurement: After the commencement date, a lessee shall measure the…

New leases standard – measuring the lease liability, part one

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 and in determining the lease term, as well as the standard’s major…