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Chapter 7

Leases

Outcome

By the end of this session you should be able to:

 apply and discuss the accounting for leases by lessees, including the
measurement of the right-of-use asset and liability

 apply and discuss the accounting for leases by lessors

 apply and discuss the circumstances where there may be remeasurement of
the lease liability

 apply and discuss the reasons behind the separation of the components of a
lease contract into lease and non-lease elements

 discuss the recognition exemptions

 account for and discuss sale and leaseback transactions

and answer questions relating to these areas.

The underpinning detail for this chapter in your Integrated Workbook can
be found in Chapter 7 of your Study Text

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