- This topic has 1 reply, 2 voices, and was last updated 4 years ago by .
Viewing 2 posts - 1 through 2 (of 2 total)
Viewing 2 posts - 1 through 2 (of 2 total)
- The topic ‘Leasing’ is closed to new replies.
OpenTuition recommends the new interactive BPP books for March 2025 exams.
Get your discount code >>
Forums › ACCA Forums › General ACCA Forums › Leasing
Could you help me answer these 2 questions regarding Leasing topic?
Please give me explanation why?
1. The objective of IFRS 16 Lease is to prescribe the appropriate accounting treatment and required disclosures in relation to lease.
Which TWO of the following are among the criteria set out in IFRS 16 for an arrangement to be classified as a lease?
a. The lessee has the right to substantially all of the economic benefits from the use of the asset.
b. The lease term is for substantially all of the economic life of the asset
c. The agreement concerns an identified asset which cannot be substituted
d. The lessor has the right to direct the use of the asset
Thank you very much!
Surely better to ask this in the Ask ACCA Tutor FR forum