Hi there,
For a company that has current rent contracts (that originated before 01/1/2019) and wants to comply with IFRS 16 (prospectively),
should it use 01/01/2019 as initiation date for all contracts?? or for each contract the first next payment date?
For example, if the company has a contract that originated on 30/06/2017 for 5 years with yearly payments of 50,000.
In order to calculate the right of use asset, should the date to be used to calculate the present value be 01/01/2019 or 30/06/2019 ??
Thank you for your help,
Martine
IFRS 16 - Initiation date to use as present value
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- Posts: 10
- Joined: 29 Aug 2019, 08:23
Re: IFRS 16 - Initiation date to use as present value
Hi, all RoU assets and lease liabilities must be calculated as at 01/01/2019, you will need to disclose the impact of IFRS 16 on opening balance in financial statements
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- Posts: 10
- Joined: 29 Aug 2019, 08:23