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Lease Accounting – Aspects No One is Talking About

IFRS 16 regularly changes the whole activity of accounting of leases (one who has taken anything on lease). Four components that make the right use of assets under IFRS 16 are amount of lease liability, lease payments made in advance, initial direct costs, and estimate of costs of dismantling asset and restoring the site if borne by the lessee. If you want to do a diploma in IFRS online course in detail then you should go with Contetra Pvt Ltd. They provide you with study material, along with adding you to the finance first community to share good quality IFRS content. If you are interested i

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Lease Accounting – Aspects No One is Talking About

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  1. Lease Accounting – Aspects No One is Talking About

  2. Content

  3. Introduction • Ind AS 116 – Leases, has already become effective for Companies from April 1, 2019. For listed Companies, this means that the results they declare for Q1 2019 must factor the effect of the new lease standards. Whereas the unlisted Companies have time till the declaration of their annual results for the adoption of the Standard.

  4. Short term leases or Underlying asset value is low (optional

  5. Impact on transition

  6. Treatment on cash flows

  7. Discount rate

  8. Conclusion IFRS 16 regularly changes the whole activity of accounting of leases (one who has taken anything on lease).  Four components that make the right use of assets under IFRS 16 are amount of lease liability, lease payments made in advance, initial direct costs, and estimate of costs of dismantling asset and restoring the site if borne by the lessee. If you want to do a diploma in IFRS online course in detail then you should go with Contetra Pvt Ltd. They provide you with study material, along with adding you to the finance first community to share good quality IFRS content. If you are interested in getting a diploma in IFRS online classes then visit our website and start your learning: https://contetra.com/diploma-in-ifrs-training/

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