chapter 11

Valuation of ROU (Leased) Assets and Intangible Assets, Amortization and Asset Impairment

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The conte mporary issues relating to fixed assets—leases, intangibles, their amortisation and asset impairment—are provid ing a face-lift to the financial statements. The emphasis is on substance over form, prudence, ensuring the sanctity of the financial statements and quality of earnings.

CHAPTER OBJECTIVES

This chapter seeks to enable you to develop knowledge and understanding of:

  1. Meaning of lease, finance lease and operating lease.
  2. Principles and norms of standard accounting treatment of assets held under lease and disclosure requirements ...

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