International GAAP 2021

Chapter 23Leases

• 1 INTRODUCTION
• 2 OBJECTIVE AND SCOPE OF IFRS 16
  • 2.1 Objective of IFRS 16
  • 2.2 Scope of IFRS 16
  • 2.3 Recognition exemptions
  • 2.4 Definitions
• 3 WHAT IS A LEASE?
  • 3.1 Determining whether an arrangement contains a lease
    • 3.1.1 Joint arrangements
    • 3.1.2 Identified asset
    • 3.1.3 Substantive substitution rights
    • 3.1.4 Right to obtain substantially all of the economic benefits from use of the identified asset
    • 3.1.5 Right to direct the use of the identified asset
      • 3.1.5.A How and for what purpose the asset is used
      • 3.1.5.B Relevant decisions about how and for what purpose the asset is used are predetermined
      • 3.1.5.C Specifying the output of an asset before the period of use
      • 3.1.5.D Protective rights
    • 3.1.6 Flowchart of the decision-making process
    • 3.1.7 Reassessment of the contract
  • 3.2 Identifying and separating lease and non-lease components of a contract
    • 3.2.1 Identifying and separating lease components of a contract
    • 3.2.2 Identifying and separating lease from non-lease components of a contract
    • 3.2.2.A Lessee reimbursements
    • 3.2.2.B Practical expedient – lessees
    • 3.2.3 Determining and allocating the consideration in the contract – lessees
      • 3.2.3.A Determining the consideration in the contract
      • 3.2.3.B Allocating the consideration in the contract – lessees
    • 3.2.4 Determining and allocating the consideration in the contract – lessors
    • 3.2.4.A Determining the consideration in the contract
    • 3.2.4.B Allocating the consideration in the contract – lessors
  • 3.3 Contract combinations ...