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IFRS 16 Lease - implementation and lease incentive accounting

DDjfred6y ago
Hi members, I have a question regarding the implementation of IFRS 16. I am not english and hop you will understand my question In 2018 we entered into a lease for a property. The problem is we will recognise it modified retrospectivly in 2019. We don't now what the implementation journals should be as there was a lease incentive 2018 which lowered the right of use assets. The PV of the property was 4.5 million and there was a lease incentive of 400K. So we should have booked if IFRS 16 was enforced in 2018. Initial recognition 2018 Right of use asset 4.583.813 at lease liability 4.583.813 + Cash 400.000 Right of use asset 400.000 Depreciation rights of use assets 2018 4.183.813 - 418.381 = 3.765.432 Journal entry Depreciation costs 418.381 @ right of use assets 418.381 Detoriation lease liability 2018 4.583.813 - 418.624 = 4.165.189 lease liability 418.624 Interest costs 91.676 aan bank 510.300 Now implementation of the standard in 2019?????? Right of use assets 3.765.432 Lease liability 4.165.189 ????? 399.758 Can somebody please help me with this issue? Kr, Freddy
stephenwidbergstephenwidbergTutor6y ago#1
HI Freddy Please can you tell me which exam question or example this relates to and I will get back to you.
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