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ifrs 16

This topic has 1 reply, 2 voices, and was last updated 7 years ago by MikeLittle.

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February 3, 2018 at 2:20 pm #434907
adarsh1997
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Hello Mike!
IFRS 16 defines low value leases as leases where the underlying asset has a low value when new.
– Could you explain what does “low value when new” mean?
February 3, 2018 at 4:24 pm #434913
MikeLittle
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When the asset in question, if you were to buy it, would not be expensive
So, when new, it has a low value
How else can I explain it – it’s not an expensive item to buy new
Is that any clearer?
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