All topics related to IFRS Standards.
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Recently Company A has novated the office lease to its fellow subsidiary, Company B. Does it consider as termination of lease (write off ROU assets and liabilities) under Company A and capitalize the lease under Company B? Or should it be booked as transfer of assets and liabilities through interco (no impact of PnL)?
I would go for termination and new lease in separate financial statements, but without any impact on consolidated financial statements, so consolidation adjustments will be necessary