Irregular lease payments under IFRS 16 Leases
Question We took the lease contract to rent a building for 6 years with total cost of CU 60 000, of which: CU 30 000 is paid up front before we moved in; and CU 30 000 is paid at the beginning of the 4th…
Depreciation of ROU related to land
Question We entered into a contract to lease a plot of land. We will be using the land for 20 years and then we will vacate it and return it to its legal owner. We are aware that under IFRS 16, we need to account…
New window blinds in a leased office
Question We took an office under the lease and we installed the new window blinds. How do we treat the expenses for the window blinds? Do we add it to the ROU asset? Or directly in profit or loss as an expense? Answer These…
Leases prepaid for years in advance
Question How should we account for leases paid in advance for 25 years? We made a one-off payment for the lease of the land for 25 years at the commencement of the lease, and we will not make any further payments. At the end of…
Recent Comments
Categories
- Accounting Policies and Estimates (14)
- Consolidation and Groups (24)
- Current Assets (21)
- Financial Instruments (54)
- Financial Statements (48)
- Foreign Currency (9)
- IFRS Videos (64)
- Insurance (2)
- Most popular (6)
- Non-current Assets (54)
- Other Topics (15)
- Provisions and Other Liabilities (44)
- Revenue Recognition (26)