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In the lessor’s book, we only recognise the operating lease rental income and do not derecognise the assets in the financial statements.
Does that mean for the assets that we did not derecognise, we have to assess whether the assets should be classified under IAS 40 Investment Property or IAS 16 PPE ?
Perfect:
Property company leasing out office blocks – IAS 40
Car hire company leasing out cars – IAS 16
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