Page 46 - Finac1 Test 4 Slides

LEASES

Leases in the financial statements of lessees (IFRS 16.22 – 60)

• For contracts that contain a lease the lessee will

use a single lease accounting model and apply the

principles in below.

• The only exception is for leases relating to low-

value assets and short-term leases for which the

recognition exemption was elected.

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