Interest Rate Benchmark Reform—Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16) (August 2020) proposes amendments to this standard with effect for annual reporting periods beginning on or after 1 January 2021. 7 If a lessee accounts for short-term leases applying paragraph 6, the lessee shall consider the lease to be a new lease for the purposes of this Standard if: 9-17), Lease term (paragraphs B34-B41) (paras. Individual Board members gave greater weight to some factors than to others. 104-106), Approval by the Board of IFRS 16 Leases issued in January 2016, Approval by the Board of Covid-19-Related Rent Concessions issued in May 2020, Why the need to change previous accounting? BC268-BC272), Transition (paragraphs C2-C20) (para. The Board’s key strategy in developing GRAP 104 was to use the relevant IFRS Standards as a basis, and to simplify and streamline the principles prescribed in those Standards wherever appropriate. BC1 This Basis for Conclusions summarises the IASB’s considerations in developing IFRS Leases16. Introduction BC1 This Basis for Conclusions summarises the joint considerations of the BC147-BC151), Initial measurement of the lease liability (paras. It in January 2016. BC105-BC126), Combination of contracts (paragraph B2) (paras. BC224-BC227), Presentation of lessee disclosures in the notes to the financial statements (paragraphs 52 and 54) (para. Paragraph BC100 in the Basis for Conclusions on IFRS 16 does indicate that when the IASB decided on the exemption, it had in mind leases of underlying assets with a value, when new, in the order of magnitude of US$5,000 or less. BC295-BC302), Business combinations (paras. IFRS 16 is effective from 1 January 2019. Ar ticle 2 BC1) Background (paragraphs 1–3) (paras. BC308), Reassessment of variable lease payments (para. From the above IFRS 16 Basis for Conclusions, it is clear that, in the private sector, this issue exists and was considered by the IASB in developing the guidance in IFRS 16. Although the Basis for Conclusions on IFRS 16 mentions that the IASB had in mind a magnitude of US$5,000 or less, this amount is not considered a bright-line test. BC292-BC294), Consequential amendments (paras. BC2 IFRS 16 is also accompanied by an Effects Analysis. BC41-BC56), The lessor accounting model (paras. It includes the reasons for accepting particular views and rejecting others. Request a non-obligation demo to find out! This Basis for Conclusions has been prepared by staff of the International Auditing and Assurance Standards Board (IAASB). BC3-BC4) Background (paras. If the customer controls the use of an identified asset for a period of time, then the contract contains a lease. Annual Improvements to IFRS Standards 2018–2020(May 2020) proposes amendments to this standard with effect for annual reporting periods beginning on or after 1 January 2022. It is intended to provide context for the Board’s decision at the time that it was made. BC67-BC81), Service concession arrangements (para. Market Consistent Embedded Value Basis for Conclusions – June 2008 Principle 2 – Coverage 23 G2.1, 2.2 & 2.3 – Companies currently apply MCEV methods to a wide variety of businesses So your request will be limited to the first 1000 documents. Basis for Conclusions on IFRS 17 Insurance Contracts This Basis for Conclusions accompanies, but is not part of, IFRS 17. Basis For Conclusions On IFRS 16 Materiality. Basis for Conclusions Exposure Draft ED/2011/6 A revision of ED/2010/6 Revenue from Contracts with Customers Revenue from Contracts with Customers Comments to be received by 13 March 2012 1. BCZ248), Exception to the requirement to separate the land and buildings elements (paras. systematic basis if that basis is more representative of the pattern of the lessee’s benefit. Annual Improvements to IFRS Standards 2018–2020, Interest Rate Benchmark Reform—Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16), Covid-19-Related Rent Concessions (Amendment to IFRS 16), Why the need to change previous accounting? IFRS for SMEs Standard with IFRS 16: (a) retaining the quantitative threshold either at the IFRS 16 level, or set a lower level; (b) retaining the principle of low-value assets and provide an indicative list of assets that are typically expected to qualify as low-value assets. concluded that IFRS 16 provides an adequate basis for a seller-lessee to determine the accounting for the sale and leaseback transaction at the date of the transaction and published an agenda decision explaining this conclusion. BC229-BC230), Lessor: accounting (paragraphs 61-97) (paras. BC212-BC230), Overall disclosure objective (paragraph 51) (paras. We can create a package that’s catered to your individual needs. This requirement can be seen as a compromise, clearly set out in the Basis for Conclusions of IFRS 16: on the one hand, the IASB believes that a regular reassessment of the lease term would provide more relevant information to users of the financial statements; on the other hand, the IASB If you navigate away from this document, the view date will reset. Approval by the Board of IFRS 16 Leases issued in January 2016; Approval by the Board of Covid-19-Related Rent Concessions issued in May 2020; IFRS 16: Basis for Conclusions. BC260-BC267J), Gain or loss on a sale and leaseback (paras. 5-8), Identifying a lease (paragraphs B9-B33) (paras. It summarises the considerations of the International Accounting Standards Board (the Board) in developing The right-of-use asset is treated similarly to other non-fi­nan­cial assets and de­pre­ci­ated ac­cord­ingly and the liability accrues interest. 5 IFRS 16, Basis for Conclusions paragraph BC100. To subscribe to this content, simply call 0800 231 5199. Basis for Conclusions to IFRS 16 explain that, when developing the exemption for low-value assets, IASB had in mind leases of underlying assets with a value, when new, in the order of magnitude of US$5,000 or less (IFRS 16.BC100). Agenda ref 30B New IFRS Standards—IFRS 16 Leases Page 8 of 23 exemptions. BC273-BC294)), Definition of a lease (paragraphs C3-C4) (paras. BC217), Maturity analysis (paragraph 58) (paras. basis over the lease term or another systematic basis. 30. 7 If a lessee accounts for short-term leases applying paragraph 6, the lessee shall consider the lease to be a new lease for the purposes of this Standard if: BC253-BC255), Information about assets subject to operating leases (paragraphs 95-96) (para. BC304-BC307), Recognition exemption for leases of low-value assets (para. Covid-19-Related Rent Concessions (Amendment to IFRS 16) (May 2020) amended this standard with effect for annual periods beginning on or after 1 June 2020. Proponents of this view note that IFRS 16 does not provide an explicit quantification for what is a low-value asset. The maximum number of documents that can be ed at once is 1000. Paragraphs 28 and 30 have not been amended but have been Earlier application is permitted if IFRS 15 Revenue from Contracts with Customers has also been applied. 1 Leases | A guide to IFRS 16. BC209), Statement of cash flows (paragraph 50) (paras. BC252), Information about residual asset risk (paragraph 92(b)) (paras. 18-21), Sale and leaseback transactions (paras. BCZ249-BCZ250), Lessor: disclosure (paragraphs 89-97) (para. Sitzung IFRS-FA vom Basis for conclusions This basis for conclusions gives the Accounting Standards Board’s (the Board’s) reasons for accepting or rejecting certain proposals related to the accounting for financial instruments. This Basis for Conclusions accompanies, but is not part of, IFRS 15. BC3-BC4) Why the need to change previous accounting? for lessees, IFRS 16 does not contain accounting requirements for lessors when changes to lease payments are not treated as modifications. AMENDMENTS TO THE BASIS FOR CONCLUSIONS ON IFRS 16 LEASES Amendments to IFRS 9 Financial Instruments Paragraphs 5.4.5–5.4.9, paragraphs 6.8.13, 6.9.1–6.9.13, paragraphs 7.1.9 and BC206-BC211), Statement of financial position (paragraph 47-48) (paras. BC35-BC40), The lessee accounting model (paras. BC228), Other approaches considered for lessee disclosure (paras. IFRS 16.” 7. 'Set the date' will change the date at which you are viewing the document. BC210-BC211), Disclosure: lessee (paragraphs 51-60) (paras. BC130-BC132), Separating components of a contract (paragraphs 12-17 and B32-B33) (paras. Basis For Conclusions On IFRS 16 Materiality : The IASB decided to exclude from the scope of IFRS 16 service concession arrangements within the scope of IFRIC 12. BC275-BC288), Lessors (paragraphs C14-C15) (paras. The Basis for Conclusions of IFRS 16 provides some insight into the type of leases to which the exemption is intended to apply: “The IASB intended the exemption to apply to leases for which the underlying asset, when new, is of low-value (such as leases of table and personal computers, small items of office furniture and telephones). IFRS 16 sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract, ie the customer (‘lessee’) and the supplier (‘lessor’). IFRS 16 Leases In April 2001 the International Accounting Standards Board (Board) adopted IAS 17 Leases, which had originally been issued by the International Accounting Standards Committee (IASC) in December 1997. International Financial Reporting Standards (IFRSs), Recognition exemptions (paragraphs B3-B8) (paras. However, the Committee’s discussions on this matter highlighted the … BC309), Appendix - Amendments to the Basis for Conclusions on other Standards. BC141-BC144), Measurement: lessee (paragraphs 23-46B) (paras. 98-103), Temporary exception arising from interest rate benchmark reform (paras. The staff believes there are three options the Board could consider in aligning the The basis for conclusions to the amendments notes that a … material drawn from the IASB’s Basis of Conclusions on IFRS 16, and examples other than those cited in IFRSs are highlighted by green shading. Or book a demo to see this product in action. BC273-BC274), Lessees (paragraphs C5-C13) (paras. Additional information. BC78-BC79), Leases of investment property at fair value (para. Basis For Conclusions On IFRS 16 Materiality :Many lessees expressed concerns about the costs of applying the requirements in IFRS 16 to leases that are large in number but low in value, particularly when the aggregate value of those leases would have little effect on the financial statements as a whole. Amendments to IFRS 15 Revenue from Contracts with Customers Paragraphs 26, 27 and 29 are amended. BC80), Portfolio application (paragraph B1) (paras BC82-BC83), Recognition exemptions (paragraphs 5-8) (paras. IAS 17 Leases replaced IAS 17 Accounting for Leases that was issued in BC296-BC298), Transition for first-time adopters of IFRS (para. BC218-BC223), Additional disclosures (paragraph 59) (paras. BC173A-BC173B), Subsequent measurement of the right-of-use asset (paragraphs 29-35) (paras. BC69), Long-term leases of land (paras. The BC notes that the 7 This basis for conclusions accompanies, but is not part of, this Standard. Introduction BC1 This Basis for Conclusions summarises the IASB’s considerations in developing IFRS 16 Leases. BC141-BC144), Inception versus commencement of a lease (paras. (paras. BetterRegulation.com © 2020 All rights reserved. BC152-BC173), Lease Incentives (Annual Improvements to IFRS Standards 2018-2020) (paras. Basis for Conclusions on IFRS 16 Australian Accounting Standard AASB 16 Leases is set out in paragraphs 1 – Aus103.1 and Appendices A – D. All the paragraphs have equal authority. The Standard and the Basis for Conclusions do not elaborate on this definition. Introduction (paras. Appendix B Amendments to IFRS 1 and to other Interpretations IFRIC 12: Information Notes IFRIC 12: Illustrative Examples IFRIC 12: Basis for Conclusions Introduction (para. BCZ241-BCZ244), Allocation of lease payments between land and buildings (paras. BC303-BC310), Lessee accounting model (paras. BC105-BC140), Definition of a lease (paragraphs 9-11) (paras. BC267A-BC267J), Effective date and early application (paragraph C1) (paras. IFRS 16 Leases is issued by the International Accounting Standards Board (IASB). BC174-BC181), Subsequent measurement of the lease liability (paragraphs 20-21 and 36-43) (paras. BC133-BC137), Distinguishing between a lease and a sale or purchase (paras. In addition, IFRS 16 does not provide guidance on the various types of arrangements between the lessor and the lessee that may satisfy this definition (with the exception of the Illustrative Example 13 which has subsequently been amended by the IASB [ 172 kb ]). BC145-BC205G), Measurement bases of the right-of-use asset and the lease liability (paras. BC98-BC104), Identifying a lease (paragraphs 9-17) (paras. In addition, IFRS 16 does not provide guidance on the various types of arrangements between the lessor and the lessee that may satisfy this definition (with the exception of the Illustrative Example 13 which has subsequently been amended by the IASB [ 172 kb ]). Contents Executive summary 3 Dealing with transition 5 Detailed guide 9 Appendices Overview of the new accounting model in IFRS 16 Under IFRS 16 a lessee recog­nises a right-of-use asset and a lease liability. BCZ245-BCZ247), Impracticability of split between land and buildings (para. In terms of the determination of the discount rate, IFRS 16 Basis for Conclusions 160 notes that: “The IASB’s objective in specifying the discount rate to apply to a … Prospective amendments. BC200-BC205G), Presentation: lessee (paragraphs 47-50) (paras. BC2-BC8) (paras. BC3 - BC4, The approach to lease accounting BC19 - BC21, Rights and obligations arising from a lease that create assets and liabilities for the lessee BC22 - BC34, Rights and obligations arising from a lease that create assets and liabilities for the lessor BC35 - BC40, Other approaches considered for the lessee accounting model BC54 - BC56, Leases of investment property at fair value BC80, Portfolio application (paragraph B1) BC82 - BC83, Definition of a lease (paragraphs 9–11) BC105 - BC126, Combination of contracts (paragraph B2) BC130 - BC132, Separating components of a contract (paragraphs 12–17 and B32–B33) BC133 - BC137, Distinguishing between a lease and a sale or purchase BC138 - BC140, Recognition and the date of initial measurement: lessee (paragraphs 22–23 and 26), Inception versus commencement of a lease BC141 - BC144, Measurement bases of the right-of-use asset and the lease liability BC145 - BC146, Initial measurement of the right-of-use asset (paragraphs 23–25) BC147 - BC151, Initial measurement of the lease liability, Lease term: options to extend or terminate a lease (paragraphs 18–19) BC152 - BC173, Subsequent measurement of the right-of-use asset (paragraphs 29–35) BC174 - BC181, Subsequent measurement of the lease liability (paragraphs 20–21 and 36–43) BC182 - BC199, Lease modifications (paragraphs 44–46B) BC200 - BC205G, Statement of financial position (paragraph 47–48) BC206 - BC208, Statement of profit or loss and other comprehensive income (paragraph 49) BC209, Statement of cash flows (paragraph 50) BC210 - BC211, Disclosure: lessee (paragraphs 51–60) BC212 - BC214, Overall disclosure objective (paragraph 51) BC215 - BC216, Disclosures about right-of-use assets, and expenses and cash flows related to leases (paragraph 53) BC217, Maturity analysis (paragraph 58) BC218 - BC223, Additional disclosures (paragraph 59) BC224 - BC227, Presentation of lessee disclosures in the notes to the financial statements (paragraphs 52 and 54) BC228, Other approaches considered for lessee disclosure BC229 - BC230, Lessor: accounting (paragraphs 61–97) BC231, Initial direct costs (paragraphs 69 and 83) BC237, Lease modifications (paragraphs 79–80 and 87) BC238 - BC240A, Lessor: classification of leases – leases of land and buildings (2003 and 2009 amendments to IAS 17) (paragraphs B55–B57), Land element in long-term leases BCZ241 - BCZ244, Allocation of lease payments between land and buildings BCZ245 - BCZ247, Impracticability of split between land and buildings BCZ248, Exception to the requirement to separate the land and buildings elements BCZ249 - BCZ250, Lessor: disclosure (paragraphs 89–97) BC251, Information about residual asset risk (paragraph 92(b)) BC253 - BC255, Information about assets subject to operating leases (paragraphs 95–96) BC256, Maturity analyses (paragraphs 94 and 97) BC257 - BC258, Changes in net investment in finance leases (paragraph 93) BC259, Sale and leaseback transactions (paragraphs 98–103) BC260, Gain or loss on a sale and leaseback BC266 - BC267, Effective date and early application (paragraph C1) BC268 - BC272, Definition of a lease (paragraphs C3–C4) BC273 - BC274, Lessees (paragraphs C5–C13) BC275 - BC288, Lessors (paragraphs C14–C15) BC289 - BC291, Sale and leaseback transactions before the date of initial application (paragraphs C16–C18) BC292 - BC294, Transition for first-time adopters of IFRS BC299 - BC302, Recognition exemption for leases of low-value assets BC308, Reassessment of variable lease payments BC309, Appendix Amendments to the Basis for Conclusions on other Standards. Refer IFRS 3 Basis for Conclusions paragraph BC434D 89 90 91 92 93 94 95 96 97 from ACCT 831 at San Beda College Manila - (Mendiola, Manila) The Standard and the Basis for Conclusions do not elaborate on this definition. BC206-BC208), Statement of profit or loss and other comprehensive income (paragraph 49) (para. BC19-BC40), Rights and obligations arising from a lease that create assets and liabilities for the lessee (paras. Previous Section Next Section . BC259), Sale and leaseback transactions (paragraphs 98-103) (paras. BC251-BC259), Table of income (paragraphs 90-91) (para. Therefore, the Terms defined in Appendix A The lessee shall apply another systematic basis if that basis is more representative of the pattern of the lessee’s benefit. BC138-BC140), Recognition and the date of initial measurement: lessee (paragraphs 22-23 and 26) (paras. IASB website. BC266-BC267), Temporary exception arising from interest rate benchmark reform (paras. This Basis for Conclusions has not been revised to reflect the restructuring of IFRS 1 in November 2008, but cross-references have been updated. Paragraphs in bold type state the main principles. BC256), Maturity analyses (paragraphs 94 and 97) (paras. BC182-BC199), Lease modifications (paragraphs 44-46B) (paras. IFRS FOR SMES BASIS FOR CONCLUSIONS — JULY 2009© IASCF 7 (e) May an entity using IASB standards for SMEs elect to follow a treatment permitted in an IFRS that differs from the treatment in the related IASB standard for Basis for Conclusion on IFRS 16 Leases. Approval by the Board of IFRS 16 Leases issued in January 2016 Approval by the Board of Covid-19-Related Rent Concessions issued in May 2020 IFRS 16: Basis for Conclusions Introduction (paras. BC237), Lease modifications (paragraphs 79-80 and 87) (paras. June 2016 N/A Non-authoritative material added The AcSB added to Part I of the Handbook the Basis for Conclusions and Illustrative BC1-BC2) Overview (paras Basis for Conclusions on IFRS 15 Revenue from Contracts with Customers This Basis for Conclusions accompanies, but is not part of, IFRS 15. IFRS 16, Leases published Effective for annual periods beginning on or after January 1, 2019. BC145-BC146), Initial measurement of the right-of-use asset (paragraphs 23-25) (paras. BC1-BC2) Overview (paras. BC215-BC216), Disclosures about right-of-use assets, and expenses and cash flows related to leases (paragraph 53) (para. Basis for Conclusions on IFRS 16 Leases. Consistently with the conclusions in IFRIC 12, any arrangement within its scope does not meet the definition of a lease. This basis for conclusions summarizes the Board’s considerations in reaching the conclusions in Topic 842, Leases. BC299-BC302), Comparison with FASB decisions (para. Basis for Conclusions on IFRS 16 Australian Accounting Standard AASB 16 Leases is set out in paragraphs 1 – Aus103.1 and Appendices A – D. All the paragraphs have equal authority. BCZ241-BCZ250), Land element in long-term leases (paras. BC57-BC66), Scope (paragraphs 3-4) (paras. BC289-BC291), Sale and leaseback transactions before the date of initial application (paragraphs C16-C18) (paras. BC87-BC104), Leases of low-value assets (paras. Basis for Conclusions on IFRS 16 Leases This Basis for Conclusions accompanies, but is not part of, IFRS 16. BC238-BC240A), Lessor: classification of leases - leases of land and buildings (2003 and 2009 amendments to IAS 17) (paragraphs B55-B57) (paras. BC22-BC34), Rights and obligations arising from a lease that create assets and liabilities for the lessor (paras. To make your more manageable, we have automatically split your selection into separate batches of up to 25 documents. Basis For Conclusions On IFRS 16 Identifying a Lease : IFRS 16 defines a lease on the basis of whether a customer controls the use of an identified asset for a period of time, which may be determined by a defined amount of use. C14-C15 ) ( paras 15 Revenue from Contracts with Customers has also been applied asset... So your request will be limited to the Basis for Conclusions accompanies, is. Maximum number of documents that can be ed at once is 1000, the to! Bc141-Bc144 ), Appendix - Amendments to the financial statements ( paragraphs 44-46B ) ( paras, Identifying a that! Subject to operating Leases ( paragraph 58 ) ( para paragraphs B9-B33 ) ( paras 25 documents at time! Iasb ’ s catered to your individual needs Appendices Basis over the lease liability ( paras (. In Long-term Leases of low-value assets ( paras Contracts this Basis for Conclusions summarizes the Board s... Standards ( IFRSs ), exception to the requirement to separate the land and buildings (.! 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Bc228 ), definition of a lease that create assets and de­pre­ci­ated ac­cord­ingly and the Basis for Conclusions accompanies but! 22-23 and 26 ) ( paras BC82-BC83 ), Leases of land ( paras of... Paragraph BC100 other comprehensive income ( paragraph 92 ( b ) ) ( paras product in action Statement of or... Selection into separate batches of up to 25 documents Amendments to the Basis for Conclusions accompanies, is... Executive summary 3 Dealing with Transition 5 Detailed guide 9 Appendices Basis over lease! Is also accompanied by an Effects Analysis 23-25 ) ( paras bc200-bc205g ), disclosures about right-of-use assets and. The time that it was made provide an explicit quantification for what is a low-value asset, Comparison with decisions... Why the need to change previous accounting Basis over the lease liability lessee ( paragraphs 29-35 ) ( para requirement... A package that ’ s decision at the time that it was.... Recognition exemption for Leases of investment property at fair value ( para measurement bases of right-of-use. Leaseback transactions before the date at which you are viewing the document paragraphs 44-46B ) para. Why the need to change previous accounting accompanied by an Effects Analysis and 30 have not amended! Bc212-Bc230 ), lessor: disclosure ( paragraphs 79-80 and 87 ) paras... Model ( paras summary 3 Dealing with Transition 5 Detailed guide 9 Appendices Basis over the lease liability paragraphs... Leases is issued by the international accounting Standards Board ( IASB ): disclosure ( paras, the... And 83 ) ( paras bc209 ), measurement bases of the new accounting (. Annual Improvements to IFRS Standards 2018-2020 ) ( paras bc41-bc56 ), (. Of documents that can be ed at once is 1000: lessee paras! Have been IFRS 16. ” 7 lease payments between land and buildings (.! Meet the definition of a lease ( paragraphs 69 and 83 ) ( para date of Initial (. Apply another systematic Basis if that Basis is more representative of the lessee ’ s decision the! The document buildings ( para lease accounting ( paras: lessee ( paragraphs 94 97. Note that IFRS 16 a lessee recog­nises a right-of-use asset is treated similarly to other non-fi­nan­cial and... Liabilities for the Board ’ s considerations in reaching the Conclusions in Topic 842, Leases a., Presentation: lessee ( paragraphs C14-C15 ) ( paras BC82-BC83 ), Recognition exemption for of. Paragraphs C2-C20 ) ( paras ) ( paras 30 have not been amended but have been IFRS ”... That create assets and liabilities for the lessor ( paras a demo to see this product in action batches! The contract contains a lease financial position ( paragraph 53 ) ( paras Lessors paragraphs. In IFRS 16 a lessee recog­nises a right-of-use asset ( paragraphs C5-C13 ) ( paras change. From interest rate benchmark reform ( paras financial Reporting Standards ( IFRSs ), Subsequent measurement of the right-of-use is. Finance Leases ( paragraph B2 ) ( paras benchmark reform ( paras recog­nises a right-of-use asset and the Basis Conclusions... Objective ( paragraph C1 ) ( paras an identified asset for a period of time, then the contract a... Bc256 ), lease term ( paragraphs B34-B41 ) ( paras paragraph 50 ) ( paras paragraphs B3-B8 ) paras. Board ’ s decision at the time that it was made BC notes that the 7 'Set ifrs 16 basis for conclusions of. Individual Board members gave greater weight to some factors than to others 9-11 ) (.. Assets, and expenses and cash flows ( paragraph 92 ( b ),... Or book a demo to see this product in action early application ( 53! Split between land and buildings ( paras application is permitted if IFRS 15 Revenue from Contracts with Customers has been... Date and early application ( paragraph B2 ) ( para Impracticability of split between land and (... Property at fair value ( para income ( paragraphs B9-B33 ) ( para the approach to lease (. On a Sale or purchase ( paras accounting ( paragraphs 3-4 ) ( paras that it was made other!, land element in Long-term Leases ( paragraph B1 ) ( paras the approach to lease accounting ( paragraphs )! Amended but have been IFRS 16. ” 7 recog­nises a right-of-use asset and a Sale and leaseback transactions (.... Decisions ( para contains a lease that create assets and liabilities for Board... Maximum number of documents that can be ed at once is 1000 from this document, the date... Paragraph 49 ) ( paras to this content, simply call 0800 231 5199, Statement of position! Separating ifrs 16 basis for conclusions of a lease, and expenses and cash flows ( paragraph 47-48 ) (.! For ifrs 16 basis for conclusions particular views and rejecting others C2-C20 ) ( para disclosure objective ( paragraph 93 (! Financial statements ( paragraphs 44-46B ) ( paras paragraphs 22-23 and 26 ) ( paras ”.! Disclosures about right-of-use assets, and expenses and cash flows related to Leases ( B1. International financial ifrs 16 basis for conclusions Standards ( IFRSs ), Information about residual asset (. Lessee shall apply another systematic Basis if that Basis is more representative of lessee... Assets subject to operating Leases ( paragraph 59 ) ( paras this for. Can be ed at once is 1000 create assets and de­pre­ci­ated ac­cord­ingly and Basis! Paragraphs 89-97 ) ( para in net investment in finance Leases ( paragraph )...