Search found 3 matches
- 07 Mar 2024, 19:47
- Forum: IFRS-related topics
- Topic: IFRS 16 for underdeveloped land
- Replies: 4
- Views: 458
Re: IFRS 16 for underdeveloped land
Thank you Marek. Really appreciate your time
- 07 Mar 2024, 17:59
- Forum: IFRS-related topics
- Topic: IFRS 16 for underdeveloped land
- Replies: 4
- Views: 458
Re: IFRS 16 for underdeveloped land
Hi Marek Its a phased lease where we gave access to a tenant to develop a land in Oct 2022 and they paid us 3.8m dollars upfront. Per terms, they will have until Dec 31 to get the land pre works ready and we will then sign a lease agreement onwards. They were supposed to run some pre ground clearing...
- 06 Mar 2024, 05:21
- Forum: IFRS-related topics
- Topic: IFRS 16 for underdeveloped land
- Replies: 4
- Views: 458
IFRS 16 for underdeveloped land
Hi everyone Require your help here. My company is a lessor who has leased out an underdeveloped land to a tenant to develop it in phases. They paid us $5M in advance two years ago and because the agreement was at PDA stage, the $5M were staying in deferred revenue account. Starting 2023, they paid u...