My question comes from https://ifrscommunity.com/knowledge-bas ... _lessor_01
Accounting entries at the commencement date:
DR CR
95,000 Net investment in the lease
90,000 Equipment held for lease
88,398 Revenue
83,398 Cost of goods sold
I do not understand why recognise all revenue and cost of goods sold for 2001-2005 at commencement 1.1.2001
Could you explain for me?
For Dr 95000 FV and Cr 90000 NBV, this entry is for revaluation?
Thank you for your help
Excel work-IFRS16
Re: Excel work-IFRS16
Entries in this example are given for manufacturer / dealer lessor, it is explained here:
https://ifrscommunity.com/knowledge-bas ... er-lessors
https://ifrscommunity.com/knowledge-bas ... er-lessors
Re: Excel work-IFRS16
I see, thank you
But if the example is the case of retailer not manufacturer then how to recognise revenue and cost of sale?
But if the example is the case of retailer not manufacturer then how to recognise revenue and cost of sale?
Re: Excel work-IFRS16
it can be shown net as a gain/loss on disposal of an asset, it depends on the accounting policy of the lessor
Re: Excel work-IFRS16
Could you tell me what situation gain/loss in OCI?