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Leasehold

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Leasehold

  • This topic has 2 replies, 2 voices, and was last updated 2 months ago by maximus07.
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  • May 16, 2022 at 3:51 pm #655818
    maximus07
    • Topics: 377
    • Replies: 383
    • ☆☆☆☆

    Professor, is Leasehold Asset part of IAS-16 (PPE) or IFRS-16 (leasing)?

    May 16, 2022 at 7:16 pm #655830
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 6165
    • ☆☆☆☆☆

    Hi,

    Leasehold building are still part of PPE as we still own the building but someone else owns the land that it was built upon, hence we use IAS 16.

    Thanks,

    May 18, 2022 at 11:03 pm #656001
    maximus07
    • Topics: 377
    • Replies: 383
    • ☆☆☆☆

    Thank you!

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