IAS 40 and IFRS 16

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May 29, 2021 at 1:11 pm #622171
Jiya024
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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:)
May 29, 2021 at 5:45 pm #622215
Stephen Widberg
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Standard 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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