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IAS 17 v/s IFRS 16

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › IAS 17 v/s IFRS 16

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  • January 30, 2018 at 5:41 pm #434043
    adarsh1997
    Participant
    • Topics: 646
    • Replies: 282
    • ☆☆☆☆

    Hello Mike!

    Is ‘transfers substantially all the risk and reward’ the same as having ‘control’ over the asset?

    January 30, 2018 at 6:39 pm #434046
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23333
    • ☆☆☆☆☆

    Pretty much although if you look at the IASPLUS website on IFRS 16 you’ll see a fuller explanation (including things like “the right to exclude others from access to the asset”)

    OK?

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