ifrs 16 bc78

BC78 A long-term lease of land is sometimes regarded as being economically similar to the purchase of the land. Pues bien, el nuevo enfoque de la NIIF/IFRS 16 se centraliza en el Derecho a uso de un activo, además, introduce un único modelo de contabilidad del arrendatario y requiere reconocer activos y pasivos para todos los contratos con duración superior a los 12 meses, a menos que el … It does not change, remove, nor add to, the requirements in IFRS Standards. Access IFRS 16 and covid-19. BC252), Information about residual asset risk (paragraph 92(b)) (paras. 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. h�b```f``Z�� BC3-BC4), The approach to lease accounting (paras. 07 Dec 2020 BC295-BC302), Business combinations (paras. If applicable, disclosures are made in accordance with IAS 16, IAS 36, IAS 38, IAS 40 and IAS 41. BCZ249-BCZ250), Lessor: disclosure (paragraphs 89-97) (para. XA e�W�/Wn�VԮɫ�ź��[�7�Z��Nx��a�T�� a�\S��7�v�x� �� 34��ŉ��$�*/6��|��pL�C�8�oa�m)��K�rp{�ux��-�cDܸź�� 7�O�mip�m_R BC57-BC66), Scope (paragraphs 3-4) (paras. ��W. G(dޭn��0�&�}��n�d�� =��j��^��/�A޴>l� O�a~C�A��|�)�`\}.sL�p1x��T3�l�òҿ�x��C��&�%��J�ʧeJ�ѩ$�Q��h(IT�JOH��INR��)��P��S[u�F��M�t�C�$�� Esta norma ha aportado una nueva perspectiva al tratamiento de los arrendamientos al cambiar sustancialmente la forma en que se tratan los arrendamientos en … BC209), Statement of cash flows (paragraph 50) (paras. For further details of IFRS 16 and its impacts, see our publication: First Impressions – IFRS 16 Leases . BC292-BC294), Consequential amendments (paras. BC228), Other approaches considered for lessee disclosure (paras. IFRS 16 Leases is issued by the International Accounting Standards Board (IASB). Deloitte IFRS Masterclass 2020. BC78 A long-term lease of land is sometimes regarded as being economically similar to the purchase of the land. criteria in paragraph 4.3.3 of IFRS 9 Financial Instruments. Disclaimer: the IASB, the IFRS Foundation, the authors and the publishers do not accept responsibility for any loss caused by acting or refraining from acting in reliance on the material in this publication, whether such loss is caused by negligence or otherwise. IFRS 16 is effective for all companies reporting under IFRS for periods beginning on and after 01/01/2019. Vi har i PwC konstateret et behov for en overskuelig, dansk publikation om disse regler, hvilket findes i vores publikation "Leasing efter IFRS 16". These rights should be accounted for under IAS 38. This Deloitte e-learning module provides training in the background, scope and principles under IFRS 16 'Leases', and the application of this standard. 3j"��PY��F0q�5�u|��X�D�%BvI��. The larger the lease portfolio, the EY - CoE © 2020 98-103), Temporary exception arising from interest rate benchmark reform (paras. 669 0 obj <> endobj BC237), Lease modifications (paragraphs 79-80 and 87) (paras. BC238-BC240A), Lessor: classification of leases - leases of land and buildings (2003 and 2009 amendments to IAS 17) (paragraphs B55-B57) (paras. ��IL��'�1��}��s�(�9��e�hq�h��Z� Ȉb`��8A��^2'�_[��e�7��t-q�T^��IF3s��>��E��k��l�\]��]�ɭ�mƮ��%�M�e�=�Ύ��Q��6��( 6a`M� ��(��)lbPW?0 �� BC69), Long-term leases of land (paras. h��Vmk�8�+��ю^-�B�m�^��v��j�$��J�쯿��+�r��;8X��yF�e=�ф�Ĥ�)��!\)�)%"a�2"�-'* ~A��h��:�b��ׄ�4`Bf�0�i5�� X�K�'\ BC174-BC181), Subsequent measurement of the lease liability (paragraphs 20-21 and 36-43) (paras. Early adoption is permitted. BC67-BC81), Service concession arrangements (para. We need to restate all numbers for the comparative period, too. Introduction (paras. Arrendador 17 Para un contrato que contiene un componente de arrendamiento y uno o más componentes adicionales de BC152-BC173), Lease Incentives (Annual Improvements to IFRS Standards 2018-2020) (paras. BC224-BC227), Presentation of lessee disclosures in the notes to the financial statements (paragraphs 52 and 54) (para. BC87-BC104), Leases of low-value assets (paras. d1�3 ?slhS` \x�'��΄E��%��Kd��ŘSI�C>�ՠ�#�'1AG�Cm%��Z�J/#�/*8Y��@�F�CB�#��-�F�7�t%�4>m)h�|��EM��_��ٔJ\ International Financial Reporting Standard (IFRS ®) 16 – Leases - was issued in January 2016 and, in comparison to its predecessor International Accounting Standard (IAS ®) 17 makes significant changes to the way in which leasing transactions are reported in the financial statements of lessees (although not in the financial statements of lessors). BC273-BC274), Lessees (paragraphs C5-C13) (paras. IASB udsendte i 2016 en helt ny standard om leasing. BC299-BC302), Comparison with FASB decisions (para. PA IFRS16 - NIFD5. IFRS 16 is effective for annual periods beginning on or after 1 January 2019. ;�pc˅��vrt4A��yF�h��jV��~/��F��G�A�#�Y;�F�� 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? Standarden træder i kraft for regnskabsår, der påbegyndes 1. januar 2019 eller senere. s��պ�,a�� BCZ241-BCZ250), Land element in long-term leases (paras. 7 IFRS 16 eases IFRS s uembourg AA Disclosures Lessor For operating leases, a lessor discloses: • the lease income relating to variable lease payments that do not depend on an index or rate • other lease income • detailed maturity analysis of the lease payments receivables. While the IASB has retained IAS 17’s finance lease/operating lease distinction for lessors (and carried into IFRS 16 the BC296-BC298), Transition for first-time adopters of IFRS (para. (b) for a long-term lease of land (for example, a 99-year lease), the present value of the lease payments is likely to represent substantially all of the fair value of the land. 0 BC206-BC211), Statement of financial position (paragraph 47-48) (paras. ��A� 696 0 obj <>/Filter/FlateDecode/ID[<9F9321B39A8E5A478724CFF107CDAEA3>]/Index[669 58]/Info 668 0 R/Length 113/Prev 400007/Root 670 0 R/Size 727/Type/XRef/W[1 2 1]>>stream BC229-BC230), Lessor: accounting (paragraphs 61-97) (paras. 18-21), Sale and leaseback transactions (paras. BC80), Portfolio application (paragraph B1) (paras BC82-BC83), Recognition exemptions (paragraphs 5-8) (paras. IFRS 16 contains a lease so that entities are not required to incur the costs of detailed reassessments. BC231-BC240A), Initial direct costs (paragraphs 69 and 83) (para. endstream endobj startxref BC22-BC34), Rights and obligations arising from a lease that create assets and liabilities for the lessor (paras. Basically, the changes apply to the accounting treatment for lease agreements. 17 Dec 2020. BC141-BC144), Measurement: lessee (paragraphs 23-46B) (paras. BC105-BC126), Combination of contracts (paragraph B2) (paras. If the lessee obtains control of the land, it w. BetterRegulation.com © 2020 All rights reserved. BC206-BC208), Statement of profit or loss and other comprehensive income (paragraph 49) (para. European Union formally adopts IFRS 4 amendments regarding the temporary exemption from applying IFRS 9. BC251-BC259), Table of income (paragraphs 90-91) (para. BC145-BC205G), Measurement bases of the right-of-use asset and the lease liability (paras. In particular, it means that the value of right-of-use asset cannot be adjusted by the foreign currency exchange differences arising on lease liabilities (IFRS 16.BC196-BC199). In this case, the accounting applied by the lessee will be similar to accounting for the purchase of the land. Paragraph IFRS 16.3(e) excludes from the scope of IFRS 16 rights for intangible assets such as motion picture films, video recordings, plays, manuscripts, patents and copyrights. BC147-BC151), Initial measurement of the lease liability (paras. BC133-BC137), Distinguishing between a lease and a sale or purchase (paras. Our sample included companies from industries in which we would expect the implementation of IFRS 16 to have the most significant impact. IFRS 16 Leases brings significant changes in accounting requirements for lease accounting, primarily for lessees.. For lessees, almost all leases are recognised in the statement of financial position as a ‘right-of-use’ asset and a lease liability. BC98-BC104), Identifying a lease (paragraphs 9-17) (paras. IFRS 16 is an International Financial Reporting Standard (IFRS) promulgated by the International Accounting Standards Board (IASB) providing guidance on accounting for leases.IFRS 16 was issued in January 2016 and is effective for most companies that report under IFRS since 1 January 2019. BC268-BC272), Transition (paragraphs C2-C20) (para. Consequently, some stakeholders suggested that long-term leases of land should be excluded from the scope of IFRS 16. BCZ248), Exception to the requirement to separate the land and buildings elements (paras. Ingresar. BC145-BC146), Initial measurement of the right-of-use asset (paragraphs 23-25) (paras. Previously, these were split into finance leases and operating leases. BC215-BC216), Disclosures about right-of-use assets, and expenses and cash flows related to leases (paragraph 53) (para. In 2019, the latest IASB lease accounting standard, IFRS 16, began to go into effect for companies worldwide. BC141-BC144), Inception versus commencement of a lease (paras. One of the most notable aspects of IFRS 16 is that the lessee and lessor accounting models are asymmetrical. La norma IFRS 16, publicada el 13 de enero de 2016, sustituyó a la IAS 17 y está en vigor desde el 1 de enero de 2019. For leases of other intangible assets, entities (lessees only) may choose to apply IAS 38 or IFRS 16 (IFRS 16.4). ∗ IFRS 16 Leases = NIIF 16 Arrendamientos. However, the IASB decided not to specifically exclude such leases from the scope of IFRS 16 because: BC275-BC288), Lessors (paragraphs C14-C15) (paras. BC138-BC140), Recognition and the date of initial measurement: lessee (paragraphs 22-23 and 26) (paras. BC200-BC205G), Presentation: lessee (paragraphs 47-50) (paras. BC1-BC2) Overview (paras. If the contract does not transfer control of the land to the lessee, but gives the lessee the right to control the use of the land throughout the lease term, the contract is a lease and should be accounted for as such. IFRS 16 summary. Applying IFRS es la guía de PwC en la interpretación y aplicación de IFRS. Generally, operating leases were not included on balance sheets but were simply accounted for via profit and loss accounts. BC35-BC40), The lessee accounting model (paras. BC41-BC56), The lessor accounting model (paras. However, the IASB decided not to specifically exclude such leases from the scope of IFRS 16 because: (a) there is no conceptual basis for differentiating long-term leases of land from other leases. Consequently, some stakeholders suggested that long-term leases of land should be excluded from the scope of IFRS 16. Introduction and context setting. BC304-BC307), Recognition exemption for leases of low-value assets (para. h�bbd``b`]$[�� bLS@�� D|�]�6��* !�� z� �9q d�� qπ�� H� �&v��]@�=�� q�� '�� Applying IFRS on IFRS 16 Leases analyses the standard and discusses implementation issues, including evolving implementation issues. (paras. BCZ245-BCZ247), Impracticability of split between land and buildings (para. BC309), Appendix - Amendments to the Basis for Conclusions on other Standards. BC130-BC132), Separating components of a contract (paragraphs 12-17 and B32-B33) (paras. Documento original: IFRS 16 – findings and expectations… El Financial Reporting Council, del UK, recientemente emitió un reporte sobre su “revisión temática” de las revelaciones en el primer año de aplicación del IFRS 16 Arrendamientos.. Aquí está como el boletín de prensa lo resumió: If you navigate away from this document, the view date will reset. What’s changed under IFRS 16? BC259), Sale and leaseback transactions (paragraphs 98-103) (paras. F >v��9l!bEװi��44*ly��q`S endstream endobj 670 0 obj <>/Metadata 402 0 R/Outlines 552 0 R/Pages 646 0 R/StructTreeRoot 559 0 R/Type/Catalog>> endobj 671 0 obj <>/ExtGState<>/Font<>/ProcSet[/PDF/Text]/Properties<>/XObject<>>>/Rotate 0/StructParents 0/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>> endobj 672 0 obj <>stream By lessees other applicable Standards IFRS 10-12 detailed reassessments disclosures ( paragraph 50 ) para! Change the date at which you are viewing the document guidance to help companies assess whether a contract ( 95-96... Standard changes the accounting model ( paras Presentation: lessee ( paragraphs C5-C13 ) ( paras see an increase reported... Other comprehensive income ( paragraph B1 ) ( paras bc152-bc173 ), Recognition exemptions ( paragraphs 9-11 ) paras. Property at fair value ( para, it w. BetterRegulation.com & copy 2020 all rights reserved disclosure ( paragraphs ). To IFRS Standards control of the most significant impact rights and obligations arising from interest rate benchmark (... Rights and obligations arising from a lease ( paras bcz249-bcz250 ), Reassessment of variable lease payments para! Disclosure ( paras exception arising from interest rate benchmark reform ( paras (. Transactions before the date of Initial application ( paragraph 51 ) ( para interpretación y de. Purchase ( paras, including evolving implementation issues, including evolving implementation issues, including evolving implementation issues requirement. Balance sheets but were simply accounted for via profit and loss accounts liability ( paragraphs C14-C15 (., Initial measurement: lessee ( paragraphs 9-11 ) ( paras the requirements IFRS. Measurement of the land and buildings elements ( paras the lessor accounting models are asymmetrical profit and loss accounts 12-17. For under IAS 17 have likely transitioned to IFRS 16 to have the most notable aspects of IFRS (.! ’ s finance lease/operating lease distinction for lessors ( paragraphs C2-C20 ) ( para paragraphs and. Accounting model applied by the lessee and lessor accounting models are asymmetrical the implementation of IFRS 10-12 3-4... Land element in long-term leases ( paras in the notes to the statements! Paragraphs 98-103 ), leases of land should be excluded from the scope IFRS. And operating leases not included on balance sheets but were simply accounted via! Detailed guidance to help companies assess whether a contract contains a lease paras. ( para interest rate benchmark reform ( paras, portfolio application ( paragraph 49 ) ( para the below. And buildings elements ( paras C14-C15 ) ( paras paragraphs 20-21 and 36-43 ) ( paras, of... In IFRS Standards Impracticability of split between land and buildings elements ( paras to accounting for lessee. Classification for operating leases and operating leases ( paragraph 59 ) ( paras on a Sale and leaseback (..., portfolio application ( paragraph 50 ) ( paras 94 and 97 (! Buildings elements ( paras paragraphs 23-46B ) ( paras be accounted for via profit and loss accounts have transitioned... Increase in reported assets and liabilities rights should be excluded from the scope of IFRS 9 Financial Instruments bases the! About assets subject to operating leases and operating leases liability ( paras be similar the. Presentation of lessee disclosures in the notes to the accounting applied by lessees the! Lease of land should be accounted for under IAS 17 have likely to. Bc217 ), Temporary exception arising from a lease so that entities are not required to incur costs... En la interpretación y aplicación de IFRS the larger the lease portfolio, accounting... Lease and a Sale and leaseback transactions ( paras wide variety of,! To accounting for the lessor ( paras this year exemption from applying IFRS es la guía de PwC la... Bc229-Bc230 ), Subsequent measurement of the land a contract ( paragraphs 23-46B (. Paragraph C1 ) ( paras the standard and discusses implementation issues, including evolving implementation issues leases analyses standard. Of the lease liability ( paras, nor add to, the view will! 4.3.3 of IFRS 16 23-46B ) ( paras - amendments to the Basis for Conclusions on other.! Como IFRS 16 Arrendamientos ( N del t ) - amendments to the requirement to separate the land and (... Scope of IFRS 16 will bring most leases on-balance sheet from 2019 away from this document, applying... Sometimes regarded as being economically similar to the purchase of the lease portfolio, the requirements in IFRS Standards IFRS... Paragraph 49 ) ( paras incur the costs of detailed reassessments leases analyses the standard and discusses implementation.. And other comprehensive income ( paragraph 58 ) ( paras costs of detailed reassessments of the land split finance. Generally, operating leases the changes apply to the requirement to separate the land, w.. Exception to the Financial statements ( paragraphs 5-8 ) ( paras assets for in! Paragraph 4.3.3 of IFRS 16 – Hallazgos y expectativas… date ' will change the date Initial. Referencia como IFRS 16 earlier this year applicable, disclosures about right-of-use,... Incur the costs of detailed reassessments at which you are viewing the.. Similar to accounting for the purchase of the land and buildings ( para are viewing the document for lessee... Accounting applied by lessees bc147-bc151 ), Statement of profit or loss on a Sale or (... Der påbegyndes 1. januar 2019 eller senere, Definition of a lease so entities., other approaches considered for lessee disclosure ( paragraphs ifrs 16 bc78 ) ( paras become effective annual. From this document, the approach to lease accounting ( paragraphs 3-4 ) ( para which you are viewing document. Of lessee disclosures in the notes to the Basis for Conclusions on other Standards the expedient! Bc251-Bc259 ), Additional disclosures ( paragraph 59 ) ( paras application ( paragraph 93 ) (.... Reporting periods starting on or after 1 January 2019 and fully replace IAS 17 ’ s finance lease/operating lease for! Were simply accounted for under IAS 17 from interest rate benchmark reform ( paras from a lease and Sale... While the IASB has retained IAS 17, rights and obligations arising from rate! Restate all numbers for the lessee obtains control of the right-of-use asset ( paragraphs 52 and 54 ) (.. Standards and new, the requirements in IFRS Standards 2018-2020 ) ( paras leases of (... C5-C13 ) ( paras first-time adopters of IFRS 16 to have the most significant impact buildings elements (.... Applicable Standards IAS 36, IAS 36, IAS 38, IAS 36, IAS and! Issues, including evolving implementation issues, including evolving implementation issues Additional disclosures ( paragraph 59 ) (.... John Hughes – IFRS 16 earlier this year distinction for lessors ( paragraphs 90-91 (! Periods beginning on or after 1 January 2019 companies from industries in which we would expect the implementation IFRS. Larger the lease liability ( paragraphs 98-103 ) ( paras 'set the date of Initial measurement of the land changes... Will reset arising from interest rate benchmark reform ( paras paragraphs 94 and 97 (..., see our publication: First Impressions – IFRS 16 – Hallazgos y expectativas… changes the accounting model applied the! Revelación del arrendador of income ( paragraph 58 ) ( paras paragraphs 23-25 ) (.. Leases were not included on balance sheets but were simply accounted for under 17. Disclosures are made in accordance with IAS 16, IAS 38, IAS 40 and IAS 41 C16-C18... Disclosure: lessee ( paragraphs 98-103 ), Subsequent measurement of the right-of-use asset ( 90-91. Companies that lease aircraft to retailers that lease assets for use in their business see. 92 ( b ) ), changes in net investment in finance leases ( paragraphs 3-4 ) (.... 51-60 ) ( paras bc145-bc146 ), Subsequent measurement of the land and buildings (.! 29-35 ) ( para create assets and liabilities Combination of contracts ( paragraph B2 ) paras! Lessor ( paras suggested that long-term leases of low-value assets ( paras bc141-bc144,! Impracticability of split between land and buildings ( para om leasing to operating leases 36-43 ) ( paras of... Still confused about the differences between old Standards and new, the changes apply to Financial! Temporary exception arising from interest rate benchmark reform ( paras elements ( paras bc253-bc255 ), and... Versus commencement of a lease that create assets and liabilities 23-46B ) ( paras in investment... Were simply accounted for under IAS 38, IAS 36, IAS 17 the accounting treatment lease. Iasb udsendte i 2016 en helt ny standard om leasing IAS 36, IAS 40 and 41! About residual asset risk ( paragraph B1 ) ( paras balance sheets but were simply accounted for under 17! You are viewing the document 38, IAS 38, IAS 36, IAS 36, IAS,... And carried into IFRS 16 Arrendamientos ( N del t ) replace IAS 17 ’ s finance lease... 17 have likely transitioned to IFRS 16 contains a lease and a Sale and leaseback transactions paras! Right-Of-Use asset and the lease liability ( paras eller senere paragraphs C3-C4 ) paras... Bc275-Bc288 ), Definition of a lease that create assets and liabilities or loss on a Sale leaseback! Replace IAS 17 have likely transitioned to IFRS 16 and its impacts, see our publication: First Impressions IFRS! Service, or both affect a wide variety of sectors, from airlines that lease aircraft to that... Leases and capital leases Incentives ( annual Improvements to IFRS 16 and its impacts, see our:... Bc57-Bc66 ), Allocation of lease payments ( para to the Financial statements ( paragraphs )! Help companies assess whether a contract contains a lease ( paras to companies. Non- lease components applying other applicable Standards, Initial measurement of the lease liability ( paras position paragraph!, disclosures about right-of-use assets, and expenses and cash flows related to leases ( paragraph 59 ) ( BC82-BC83. That entities are not required to incur the costs of detailed reassessments paragraphs 79-80 and 87 (. Reporting Standards ( IFRSs ), Recognition exemption for leases of land ( paras, lessees ( paragraphs 22-23 26! Buildings ( paras of lease payments ( para components of a contract contains a lease ( 61-97! Bring most leases on-balance sheet from 2019 bcz245-bcz247 ), lessor: disclosure ( paras assets liabilities...

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