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Confuse about standard

This topic has 1 reply, 2 voices, and was last updated 3 years ago by Stephen Widberg.

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May 26, 2021 at 9:04 pm #621865
sarmadkhalid45
Participant
- Topics: 8
- Replies: 19
I have a confusion about what standard will apply if parent leased out its investment property to subsidiary and after 9 month subsidiary sublet it to third party.
What standard will apply in consolidated FSs. IAS 16 or IAS 40
May 27, 2021 at 3:06 pm #621925
Stephen Widberg
Keymaster
- Topics: 15
- Replies: 3355
Assume this is an operating lease
In parent’s books -IP
In group books – before sub-lease – PPE; after sub-lease- IP
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