IFRS 16 Lessor Accounting — Leases: Finance Vs Operating

IFRS 16 Lessor Accounting

IFRS 16 Lessor Accounting DESCRIBES that lessors account for finance leases by initially de-recognizing the asset and recognizing a receivable for the net investment in the lease. Initial direct costs (other than those incurred by a Manufacturer/(Dealer) lessor) are INCLUDED in the ‘Net Investment in the Lease’. IFRS 16 Lessor Accounting … Read More

IFRS 16 Lessee Accounting — Leases: Detailed Guide

Lessee Accounting

Lessee Accounting a concept that DEPICTS the way by which a company records the financial impacts of its leasing activities. As per IFRS 16, Lessees recognize ‘Right of Use’ Asset (RoU) and ‘Lease Liability’, reflecting the present value (PV) of future lease payments. IFRS 16 (Leases) – Objective The ‘objective‘of … Read More

IFRS 15 Summary — Revenue from Contracts with Customers

IFRS 15 Summary

IFRS 15 Summary BRIEFLY describes ‘Revenue from Contracts with Customers’, whose objective is that an entity will RECOGNIZE revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. … Read More