- This topic has 1 reply, 2 voices, and was last updated 1 year ago by .
- You must be logged in to reply to this topic.
Congratulations to Jamil from Pakistan and Jeeva from Malaysia - Global Prize winners!
see all ACCA December 2022 Genius Hunt Competition winners >>
Specially for OpenTuition students: 20% off BPP Books for ACCA & CIMA exams – Get your BPP Discount Code >>
If a lessor has a right to substitute an asset given to the lessee, with an alternative asset, but that which is IDENTICAL to one previously given. in such a situation will the contract contain a lease?
i understand that if the asset is substituted with a similar asset then the contract won’t contain a lease.
The question that I would ask is whether the asset is an emergency replacement – may still be a lease – I think it’s that’s kind of criteria
KPMG have a discussion if you bing ‘substitution rights ifrs 16’