Hello,
How to account for the lease liability under IAS 17 using straight line method, after application of IFRS 16 ( recognized ROU asset in Modified Retrospective Approach at PV of Lease liability)?
Thanks
IFRS 16: Treatment of lease liability under IAS 17
Re: IFRS 16: Treatment of lease liability under IAS 17
Does IAS 17 exist?
Re: IFRS 16: Treatment of lease liability under IAS 17
How to treat the 'Lease liability' under IAS 17 on initial application of IFRS 16?
Re: IFRS 16: Treatment of lease liability under IAS 17
I mean is it shown in Equity or in Profit or Loss?
Re: IFRS 16: Treatment of lease liability under IAS 17
I thought everyone has already transitioned to IFRS 16
There are two methods of transition allowed by IFRS 16 (full retrospective or modified retrospective), have a read:
https://ifrscommunity.com/knowledge-bas ... o-ifrs-16/
Which one did you choose?
There are two methods of transition allowed by IFRS 16 (full retrospective or modified retrospective), have a read:
https://ifrscommunity.com/knowledge-bas ... o-ifrs-16/
Which one did you choose?
Re: IFRS 16: Treatment of lease liability under IAS 17
We are applying the Modified Retrospective Approach with the practical expedient (showing ROU asset at PV of outstanding lease payments) from this year.
How can we account for opening lease liability calculated under the previous lease standard?
How can we account for opening lease liability calculated under the previous lease standard?
Re: IFRS 16: Treatment of lease liability under IAS 17
You need to diligently go through paragraphs C7 to C11 of IFRS 16.