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Operating lease

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Operating lease

  • This topic has 1 reply, 2 voices, and was last updated 8 years ago by MikeLittle.
Viewing 2 posts - 1 through 2 (of 2 total)
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  • March 8, 2017 at 2:16 am #376432
    Anuja Nair
    Member
    • Topics: 365
    • Replies: 353
    • ☆☆☆☆

    Hi sir. Let’s say we are a company who have a property that we do not use for ourselves, but we lease it to others on a operating lease. And we account for all investment properties, using the fair value model.

    Since its a operating lease, the asset will still be ours and therefore we can recognise it as a investment property in our financial statements right sir?
    Therefore, we will not depreciate the asset but will conduct a fv exercise at each year end.. any gains or losses on revaluation will go to the statement of profit or loss right sir ?

    March 8, 2017 at 8:36 am #376496
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23327
    • ☆☆☆☆☆

    Correct and correct, yes

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