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Leases

For further reading, visit Chapter 7 of the Study Text. There is an illustration in
Section 3 that shows how to allocate consideration to a contract that has lease
and non-lease components. Information about sale-and-leaseback transactions
that do not take place at fair value can be found in Section 5.

You should now be able to answer TYU questions 1 – 9 and all illustrations from
Chapter 7 of the Study Text.

IFRS 16 Leases was recently issued and, as at the time of writing, has not been
examined. In the exam kit, past questions and answers have been updated to
reflect this accounting standard, and some new questions have also been
written. You could now attempt:

Q30 Minco – part (c)

Q33 Janne – part (c)

Q35 William – part (a)

Q64 Leases

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