Ias17

EC staff amalgamated version as of 24 March 2010, FOR INFORMATION PURPOSES ONLY EN EU IAS 17 International throwaway ideal 17 Leases Objective 1 The objective of this ensample is to prescribe, for lessees and lessors, the division accounting policies and disclosure to take in in relation to consumes. Scope 2 This Standard sh in every last(predicate) be applied in accounting for all considers some other than: (a) (b) rents to explore for or mathematical function minerals, oil, natural float and like non-regenerative resources; and licensing agreements for such items as operation picture films, pictorial effect recordings, plays, manuscripts, patents and copy the right way on wings. However, this Standard shall non be applied as the creation of measurement for: (a) (b) (c) (d) 3 stead held by lessees that is accounted for as coronation property (see IAS 40 investing Property); investment property provided by lessors under direct leases (see IAS 40); biological assets held by lessees under pay leases (see IAS 41 Agriculture); or biological assets provided by lessors under run leases (see IAS 41). This Standard applies to agreements that transfer the right to accustom 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 not transfer the right to use assets from one contracting caller to the other. Definitions 4 The following foothold 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 pay or series of payments the right to use an asset for an concur period of time. A finance lease is a lease that transfers substantially all the risks and rewards concomitant to ownership of an asset. Title may or may not eventually be transferred. An in operation(p) 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 call for to get a replete essay, order it on our website: Orderessay

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