Dear Professor,
I wish to know why property leased out under an operating lease falls under IAS 40 whereas property leased out under Finance lease falls under IFRS 16?
Thank you in advance:)
Ask the Tutor ACCA SBR
IAS 40 and IFRS 16
5y ago#1Standard numbers do not matter in this exam. Just think about normal lessor accounting rules.
PPE or IP leased out under:
FL will be lease receivable.
OL will be PPE or IP.
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