- This topic has 1 reply, 2 voices, and was last updated 9 months ago by Stephen Widberg.
- April 13, 2020 at 3:11 pm #567999djfred
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- Replies: 0
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
Right of use asset 400.000
Depreciation rights of use assets 2018
4.183.813 – 418.381 = 3.765.432
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
Can somebody please help me with this issue?
FreddyApril 14, 2020 at 9:09 am #568178Stephen WidbergModerator
- Topics: 7
- Replies: 1268
Please can you tell me which exam question or example this relates to and I will get back to you.
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