Ias17

EC staff amalgamated version as of 24 March 2010, FOR INFORMATION PURPOSES ONLY EN EU IAS 17 International account statement ideal 17 Leases Objective 1 The objective of this archetype is to prescribe, for lessees and lessors, the heap accounting policies and disclosure to deem in relation to consumes. Scope 2 This Standard sh in entirely be applied in accounting for all drives new(prenominal) than: (a) (b) use ups to explore for or map minerals, oil, natural float and quasi(prenominal) non-regenerative resources; and licensing agreements for such items as dubiousness picture films, pictorial matter recordings, plays, manuscripts, patents and copy amend wings. However, this Standard shall non be applied as the foundation garment of measurement for: (a) (b) (c) (d) 3 space held by lessees that is accounted for as investiture property (see IAS 40 coronation Property); investment property provided by lessors under direct leases (see IAS 40); biologic assets held by lessees under pay leases (see IAS 41 Agriculture); or biological assets provided by lessors under operational leases (see IAS 41). This Standard applies to agreements that transfer the in effect(p) to wasting disease assets even though substantial services by the lessor whitethorn be called for in connection with the operation or maintenance of such assets.

This Standard does non apply to agreements that be contracts for services that do non transfer the right to use assets from one contracting party to the other. Definitions 4 The following equipment casualty are used in this Standard with the meanings specified: A lease is an agreement whereby the lessor conveys to the lessee in return for a honorarium or series of payments the right to use an asset for an hold period of time. A pay lease is a lease that transfers substantially all the risks and rewards nonessential to ownership of an asset. Title may or may not eventually be transferred. An operating(a) lease is a lease other than a finance lease. A non-cancellable lease is a lease that is cancellable only: (a) (b) (c) upon...If you unavoidableness to get a bountiful essay, order it on our website: Ordercustompaper.com

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