The first part of calculations and background information for the simple case IFRS 16 Leases is dicsussed on the web page listed here.
Simple case IFRS 16 Leases – Fixed payments depending on an index and rent free period
We will not repeat every quarterly payment/journal entry. However the quarterly payment as at 1 December 2015, the year-end financial closing entries and the indexing as at 1 March 2016 will be discussed here.
Qtr payment 1 December 2015: ...continue reading "Simple case IFRS 16 Leases – Fixed payments depending on an index and rent free period – Last part"
Some illustrative background to 'Right to Use'
Throughout the period of use the lessee has to meet the following two rights:
- the right to obtain substantially all of the economic benefits from the use of the identified asset, and
- the right to direct the use of the identified asset.
...continue reading "IFRS 16 – Right to Use"