IAS 17

/Tag:IAS 17

Lease Income Recognition

Dear Members, Please advice on the below The business of Company A is leasing of commercial premises. Company A has leased out its office to Company B for 3 years for INR5 lakhs per months and has taken security deposit of INR 50 lakhs and paid brokerage INR 10 Lakhs. please advice what will be [...]

By |October 15th, 2010|IAS 17|2 Comments

Leasing – How to

Hi all, Any idea on this please... a lease to own vehicle for two years. but a bank will finance the monthly lease fee. how should this be treated and booked? thanks! Brenda

By |October 3rd, 2009|OTHER IFRS|1 Comment

IAS 17 – Leases

Dear Experts, Could you please give your feedback on IAS-17 A company owns buildings under PPE and renting our applies IAS -17. Whether car park leasing will also to be accounted as per IAS-17 or as other income. If yes, then what if there are more than 1000 tenants with an amount of 1000 p.a. [...]

By |May 26th, 2009|OTHER IFRS|0 Comments

Capitalization of repairment expenses

Dear All, The company use a buillding under operation lease, company just pay lease payments to the owner of the building and there is no intention in the future to get any legal rights on this building. The repairement of the building was performed by the lessee company. According to IFRC, can the repairment expenses [...]

By |February 22nd, 2009|OTHER IFRS|6 Comments

Discount/ Concession amortization

Dear Experts, Please give your export opinion on the following query: The Company issues lease agreement for 12 months for rent of 120000 from 1 Jan 2008 to 31 Dec 2008. The Company gives concession for 2 months from 1 Jan 2008 to 28 Feb 2008 for 20000 i.e. a customer has to pay 100,000. [...]

By |December 15th, 2008|IFRS|0 Comments

Cash Backed Lease

Dear All, ¬† Recently my company has entered into a lease agreement with a leasing company. This lease is for 18 months and we have to pay 18 equal installments and an interest @ 16%. However, we will give to them a loan/security deposit of equivalent principal amount and they will give it back to us also in 18 equal installments @ 15%. Now my question is what do we call the deposit that we are making. It is certainly not cash as we have no accounts with the leasing company and the amount is no readily convertible/useable. We are getting interest @ 15%, so it is not an advance or prepayment or security deposit. Therefore, can you please help? […]

By |August 28th, 2008|OTHER IFRS|0 Comments

Suggestions required . . . .

Dear Fellow Members I need your suggestions & explanations on below stated matter. If possible, please suggest with references of IAS. An office is located in a bungalow, which is acquired on rent; the rent is paid in advance for a period of 1 year & the agreement is revised at the end of the term. [...]

By |August 28th, 2008|IFRS|0 Comments