IFRS 16 : Leases Part 2 Flashcards

1
Q

LESSOR ACCOUNTING

A

IFRS 16 substantially carries forward the lessor accounting model in IAS 17. The significant
differences between the lessor accounting requirements in IFRS 16 and those in IAS 17 are
primarily a consequence of decisions reached about the lessee accounting model in IFRS 16. IFRS 16 does change certain aspects of the lessor accounting model, including changes to the accounting for subleases, initial direct costs and lessor disclosures.

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2
Q

Lease classification - Lease classification

At inception date of the lease, a lessor classifies each of its leases as either an operating lease or a finance lease. [IFRS 16.61]. The classification of leases under IFRS 16 is the same as under IAS 17. A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership of an underlying asset. A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards of ownership of an underlying asset. [IFRS 16.62].

A

Lease classification - Criteria for lease classification 1

The classification of leases is based on the extent to which the lease transfers the risks and rewards incidental to ownership of an underlying asset. Risks include the possibilities of losses from idle capacity or technological obsolescence and of variations
in return because of changing economic conditions. Rewards may be represented by the expectation of profitable operation over the underlying asset’s economic life and of gain from appreciation in value or realisation of a residual value. [IFRS 16.B53].

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3
Q

Lease classification - Criteria for lease classification 2

Whether a lease is a finance lease or an operating lease depends on the substance of the transaction rather than the form of the contract.

Whether a lease is a finance lease or an operating lease depends on the substance of the transaction rather than the form of the contract. The legal form of a finance lease is that the lessor is the legal owner of the leased asset. The economic substance of a finance lease is that the lessee has all the benefits and costs associated with ownership of the asset. The finance lessee is in the same position as it would have been if it had borrowed money to buy the asset itself. That is why such leases are called finance leases; they provide finance for the use of an asset.

A

Examples of situations that individually or in combination would normally lead to a lease being classified as a finance lease are:
(a) the lease transfers ownership of the underlying asset to the lessee by the end of the lease term;
(b) the lessee has the option to purchase the underlying asset at a price that is expected to be sufficiently lower than the fair value at the date the option becomes exercisable for it to be
reasonably certain, at the inception date, that
the option will be exercised;
(c) the lease term is for the major part of the economic life of the underlying asset even if title is not transferred;
(d) at the inception date, the present value of the lease payments amounts to at least substantially all of the fair value of the underlying asset; and
(e) the underlying asset is of such a specialised
nature that only the lessee can use it without major modifications. [IFRS 16.63].

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4
Q

Lease classification - Criteria for lease classification 3

Indicators of situations that individually or in combination could also lead to a lease being
classified as a finance lease are: (a) if the lessee can cancel the lease, the lessor’s
losses associated with the cancellation are bear by
the lessee;

(b) gains or losses from the fluctuation in the fair value of the residual accrue to the lessee (for example,
in the form of a rent rebate equalling most of the sales
proceeds at the end of the lease);
and

(c) the lessee has the ability to continue the lease
for a secondary period at a rent that is substantially lower than market rent. [IFRS 16.64].

A

The examples and indicators above are not always conclusive. If it is clear from other features that the lease does not transfer substantially all the risks and rewards incidental to ownership of an underlying asset, the lease is classified as an operating lease. For example, this may be the case if ownership of the underlying asset transfers at the end of the lease for a variable payment equal to its then fair value, or if there are variable lease payments, as a result of which the lessor does not transfer substantially all such risks and rewards. [IFRS 16.65].

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5
Q

Lease classification - Criteria for lease classification 4

In our view, other considerations that could be made in determining the economic substance of the lease arrangement include the following:

(a) Are the lease rentals based on a market rate for use of the asset (which would indicate an operating lease) or a financing rate for use of the funds, which would
be indicative of a finance lease?

A

(b) Is the existence of put and call options a feature of the lease? If so, are they exercisable at a predetermined price or formula (indicating a finance lease) or are
they exercisable at the market price at the time the option is exercised (indicating an operating lease)?

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6
Q

Lease classification - Criteria for lease classification 5

A lease contract may include terms and conditions to adjust the lease payments for particular changes that occur between the inception date and the commencement date (such as a change in the lessor’s cost of the underlying asset or a change in the lessor’s
cost of financing the lease).

A

In that case, for the purposes of classifying the lease, the effect of any such changes is deemed to have taken place at the inception date.[IFRS 16.B54].

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7
Q

Lease classification - Lease classification test for land and buildings 1

When a lease includes both land and buildings elements, a lessor assesses the classification of each element as a finance lease or an operating lease separately. In determining whether the land element is an operating lease or a finance lease, an important consideration is that land normally has an indefinite economic life. [IFRS 16.B55].

A

Whenever necessary in order to classify and account for a lease of land and buildings, a lessor allocates lease payments (including any lump-sum upfront payments) between the land and the buildings elements in proportion to the relative fair values of the leasehold interests in the land element and buildings element of the lease at the inception date.

EX : Leases of land and buildings Emile Woolf

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8
Q

Lease classification - Lease classification test for land and buildings 2

If the lease payments cannot be allocated reliably between these two elements, the entire lease is classified as a finance lease, unless it is clear that both
elements are operating leases, in which case the entire lease is classified as an operating lease.
[IFRS 16.B56].

A

For a lease of land and buildings in which the amount for the land element is immaterial to the lease, a lessor may treat the land and buildings as a single unit for the purpose of lease classification and classify it as a finance lease or an operating lease. In such a case, a lessor regards the economic life of the buildings as the economic life of the entire underlying asset.
[IFRS 16.B57].

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9
Q

Lease classification - Residual value guarantees included in the lease classification test

In evaluating IFRS 16’s lease classification criteria, lessors are required to include in the ‘substantially all’ test any (i.e. the maximum obligation) residual value guarantees provided by both lessees and any other
third party unrelated to the lessor.

A

Lease classification - Reassessment of lease classification

Lease classification is made at the inception date and is reassessed only if there is a lease modification. Changes in estimates (for example, changes in estimates of the economic life or of the residual value of the underlying asset), or changes in circumstances (for example, default by the lessee), do not give rise to a new classification of a lease for accounting purposes. [IFRS 16.66]. Lessors reassess lease classification as at the effective date of the modification using the modified conditions at that date. If a lease modification results in a separate new lease, that new lease would be classified in the same manner as any new lease.

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10
Q

Finance leases

At commencement date, a lessor recognises assets held under a finance lease in its statement of financial position and presents them as a receivable at an amount equal to the net investment in the lease. [IFRS 16.67].

A

The net investment in the lease is defined as ‘the gross investment in the lease discounted at the interest rate implicit in the lease’. [IFRS 16 Appendix A]. The gross investment in the lease is ‘the sum of (a) the lease payments receivable by a lessor under
a finance lease and (b) any unguaranteed residual value accruing to the lessor.’ [IFRS 16 Appendix A].

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11
Q

Finance leases - Initial measurement 1

At lease commencement, a lessor accounts for a finance lease, as follows:
(a) derecognises the carrying amount of the
underlying asset;
(b) recognises the net investment in the lease; and
(c) recognises, in profit or loss, any selling profit
or selling loss.

A

The lessor uses the interest rate implicit in the lease to measure the net investment in the lease. In the case of a sublease, if the interest rate implicit in the sublease cannot be readily determined, an intermediate lessor may use the discount rate used for the head
lease (adjusted for any initial direct costs associated with the sublease) to measure the net investment in the sublease. [IFRS 16.68].

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12
Q

Finance leases - Initial measurement 2

Initial direct costs, other than those incurred by manufacturer or dealer lessors, are included in the initial measurement of the net investment in the
lease and reduce the amount of income
recognised over the lease term.

A

The interest rate implicit in the lease is defined in such a way that the initial direct costs are included automatically in the net investment in the lease; there is no need to add them separately. [IFRS 16.69].

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13
Q

Finance leases - Initial measurement 3

At the commencement date, the lease payments included in the measurement of the net investment in the lease comprise the following payments for the right to use the underlying asset during the lease term that are not received at the commencement date:
(a) fixed payments (including in-substance fixed payments), less any lease incentives payable;
(b) variable lease payments that depend on an index
or a rate, initially measured using the index or rate
as at the commencement date;

A

(c) any residual value guarantees provided to the lessor by the lessee, a party related to the lessee or a third party unrelated to the lessor that is financially capable of
discharging the obligations under the guarantee;
(d) the exercise price of a purchase option if the lessee is reasonably certain to exercise that option; and
(e) payments of penalties for terminating the lease, if the lease term reflects the lessee exercising an option to terminate the lease. [IFRS 16.70].

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14
Q

Finance leases - Manufacturer or dealer lessors 1

At the commencement date, a manufacturer or dealer lessor recognises the following for each of its finance leases:

(a) revenue being the fair value of the underlying asset, or, if lower, the present value of the lease payments accruing to the lessor, discounted using a market rate of interest;
(b) the cost of sale being the cost, or carrying amount’ if different, of the underlying asset less the present value of the unguaranteed residual value; and

A

(c) selling profit or loss (being the difference between revenue and the cost of sale) in accordance with its policy for outright sales to which IFRS 15 applies. A
manufacturer or dealer lessor recognises selling profit or loss on a finance lease at the commencement date, regardless of whether the lessor transfers the underlying
asset as described in IFRS 15. [IFRS 16.71].

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15
Q

Finance leases - Manufacturer or dealer lessors 2

Manufacturers or dealers often offer to customers the choice of either buying or leasing an asset. A finance lease of an asset by a manufacturer or dealer lessor gives rise to profit or loss equivalent to that resulting from an outright sale of the underlying asset, at
normal selling prices, reflecting any applicable volume
or trade discounts. [IFRS 16.72].

A

Manufacturer or dealer lessors sometimes quote artificially low rates of interest in order to attract customers. The use of such a rate would result in a lessor recognising an excessive portion of the total income from the transaction at the commencement date. If artificially low rates of interest are quoted, a manufacturer or dealer lessor restricts selling profit to that which would apply if a market rate of interest were charged. [IFRS 16.73].

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16
Q

Finance leases - Manufacturer or dealer lessors 3

A manufacturer or dealer lessor recognises as an expense costs incurred in connection with obtaining
a finance lease at the commencement date because they are mainly related to earning the manufacturer
or dealer’s selling profit.

A

Costs incurred by manufacturer or dealer lessors in connection with obtaining a finance lease are excluded from the definition of initial direct costs and, thus, are excluded from the net investment in the lease.
[IFRS 16.74].

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17
Q

Finance leases -Subsequent measurement 1

After commencement a lessor recognises finance income over the lease term, based on a pattern reflecting a constant periodic rate of return on the lessor’s net investment in the lease. [IFRS 16.75]. A lessor aims to allocate finance income over the lease term on a systematic and rational basis. A lessor applies the lease payments relating to the period
against the gross investment in the lease to reduce both the principal and the unearned finance income. [IFRS 16.76]. Thus, the lessor reduces the net investment in the lease for lease payments received (net of interest income calculated above).

A

The lessor also recognises income from variable payments that are not included in the net investment in the lease (e.g. performance or usage based variable payments) separately in the period in which the income is earned.

The subsequent treatment of the finance lease is as follows:
• The carrying amount of the lease receivable is increased by finance income earned, which is also credited to the statement of profit or loss.
• The carrying amount of the lease receivable is reduced by cash receipts.

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18
Q

Finance leases - Subsequent measurement 2

A lessor applies the derecognition and impairment requirements in IFRS 9 to the net investment in the lease. The lessor reviews regularly estimated unguaranteed residual values used in computing the gross investment in the lease. If there has been a reduction in the estimated unguaranteed residual value, the lessor revises the income allocation over the
lease term and recognise immediately any reduction
in respect of amounts accrued. [IFRS 16.77].

A

A lessor that classifies an asset under a finance lease as held for sale (or includes it in a disposal group that is classified as held for sale) applies IFRS 5 – Non-current Assets Held for Sale and Discontinued Operations. [IFRS 16.78].

An earlier section explained that the interest rate implicit in the lease is the discount rate that, at the inception of the lease, causes:
• the aggregate present value of the lease payments and the unguaranteed residual value; to be equal to
• the sum of the fair value of the leased asset and any initial direct costs of the lessor.

Therefore the net investment in the lease is the sum of the fair value of the asset plus the initial direct costs.

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19
Q

Finance leases - Remeasurement of the net
investment in the lease

After lease commencement, the net investment in a lease is not remeasured unless:
• the lease is modified (i.e. a change in the scope of the lease, or the consideration for the lease, that was not part of the original terms and conditions of the lease) and the modified lease is not accounted for as a separate contract (see Lease modifications below);
or

A

• the lease term is revised when there is a change in the non-cancellable period of the lease (see Lease modifications above).

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20
Q

Operating leases 1

Under IFRS 16, lessors account for operating leases in a manner similar to the requirements under IAS 17. That is, they continue to recognise the underlying asset and do not recognise a net investment in the lease on the balance sheet or initial profit (if
any) on the income statement. The underlying asset continues to be accounted for in accordance with applicable accounting standards (e.g. IAS 16).

A

Lessors recognise lease payments as income on either a straight-line basis or another systematic basis if that basis is more representative of the pattern in which benefit derived from the use of the underlying asset is diminished. [IFRS 16.81]. After lease commencement, lessors recognise variable lease payments that do not depend on an index or rate (e.g. performance- or usage-based payments) as they are earned.

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21
Q

Operating leases 2

A lessor recognises costs, including depreciation, incurred in earning the lease income as an expense. [IFRS 16.82]. A lessor adds initial direct costs incurred in obtaining an operating lease to the carrying amount of the underlying asset and recognises those costs as an expense over the lease term on the same basis as the lease income. [IFRS 16.83].

A

The depreciation policy for depreciable underlying assets subject to operating leases must be consistent with the lessor’s normal depreciation policy for similar assets. A lessor calculates depreciation in accordance with IAS 16 and IAS 38. [IFRS 16.84]. A lessor
applies IAS 36 to determine whether an underlying asset subject to an operating lease is impaired and to account for any impairment loss identified. [IFRS 16.85].

A manufacturer or dealer lessor does not recognise any selling profit on entering into an operating
lease because it is not the equivalent of a sale.
[IFRS 16.86].

22
Q

Lease modifications

A lease modification is a change in the scope of a lease, or the consideration for a lease, that was not part of the original terms and conditions of the lease (for example, adding or terminating the right to use one or more underlying assets, or extending or shortening the contractual lease term).
[IFRS 16 Appendix A].

A

If a lease is modified, the modified contract is evaluated to determine whether it is or contains a lease (see Determining whether an arrangement contains a lease above). If a lease continues to exist, the lease modification can result in:
• a separate lease; or
• a change in the accounting for the existing lease
(i.e. not a separate lease).

23
Q

Lease modifications - Determining whether a modification to a finance lease results in a
separate lease

A lessor accounts for a modification to a finance lease as a separate lease if both:
(a) the modification increases the scope of the lease
by adding the right to use one or more underlying assets; and
(b) the consideration for the lease increases by an amount commensurate with the stand-alone price for the increase in scope and any appropriate adjustments to that stand-alone price to reflect the circumstances of the particular contract. [IFRS 16.79].

A

If both of the conditions above are met, the lease modification results in two separate leases, the unmodified original finance lease and a separate lease. Lessors account for the separate lease in the same manner as other new leases. If either of the conditions is
not met, the lease modification does not result in a separate lease.

24
Q

Lease modifications - Lessor accounting for a modification to a finance lease that does not
result in a separate lease

For a modification to a finance lease that is not accounted for as a separate lease, a lessor
accounts for the modification as follows:

(a) if the lease would have been classified as an operating lease had the modification been in effect
at the inception date, the lessor:

A

(i) accounts for the lease modification as a new lease from the effective date of the modification; and
(ii) measures the carrying amount of the underlying asset as the net investment in the lease immediately before the effective date of the lease modification;
(b) otherwise, the lessor applies the requirements of IFRS 9. [IFRS 16.80].

25
Q

Lease modifications - Modification to an
operating lease

A lessor accounts for a modification to an operating lease as a new lease from the effective date of the modification, considering any prepaid or accrued lease payments relating to the original lease as part of the lease payments for the new lease. [IFRS 16.87]

A

no note

26
Q

Presentation

Similar to IAS 17, IFRS 16 requires lessors to recognise assets held under a finance lease in the statements of financial position and present them as a receivable at an amount equal to the net investment in the lease. [IFRS 16.67].
In addition, lessors are required under IFRS 16 to present underlying assets subject to operating leases according to the nature of that asset in the statement of financial position. [IFRS 16.88].

A

The net investment in the lease is subject to the same considerations as other assets in classification as current or non-current assets in the statement of financial position.

27
Q

Disclosure - Disclosures for all lessors 1

A lessor discloses the following amounts for the reporting period:
(a) for finance leases:
(i) selling profit or loss;
(ii) finance income on the net investment in the lease; and
(iii) income relating to variable lease payments not included in the measurement of the net investment
in the lease;

A

(b) for operating leases, lease income, separately disclosing income relating to variable lease payments that do not depend on an index or a rate. [IFRS 16.90].

The disclosures specified above are provided in a tabular format, unless another format is more appropriate. [IFRS 16.91].

28
Q

Disclosure - Disclosures for all lessors 2

A lessor discloses additional qualitative and quantitative information about its leasing activities necessary to meet the disclosure objective in 6.7.1 above. This additional information includes, but is not limited to, information that helps users of financial statements to assess:

(a) the nature of the lessor’s leasing activities;
and

A

(b) how the lessor manages the risk associated with any rights it retains in underlying assets. In particular, a lessor discloses its risk management strategy for the rights it retains in underlying assets, including any means by which the lessor reduces that risk. Such means may include, for example, buy-back agreements, residual value guarantees or variable lease payments for use in excess of specified limits. [IFRS 16.92]

29
Q

Disclosure - Disclosures for finance leases

A lessor provides a qualitative and quantitative explanation of the significant changes in the carrying amount of the net investment in finance leases.
[IFRS 16.93].

A

A lessor discloses a maturity analysis of the lease payments receivable, showing the undiscounted lease payments to be received on an annual basis for a minimum of each of the first five years and a total of the amounts for the remaining years. A lessor
reconciles the undiscounted lease payments to the net investment in the lease. The reconciliation must identify the unearned finance income relating to the lease payments receivable and any discounted unguaranteed residual value. [IFRS 16.94].

30
Q

Disclosure - Disclosures for operating leases

For items of property, plant and equipment subject to an operating lease, a lessor applies the disclosure requirements of IAS 16. In doing so, the lessor disaggregates each class of property, plant and equipment into assets subject to operating leases and assets not subject to operating leases. Therefore, a lessor provides the disclosures required by IAS 16 for assets subject to an operating lease (by class of underlying asset) separately from owned assets held and used by the lessor. [IFRS 16.95].

A

A lessor applies the disclosure requirements in IAS 36, IAS 38, IAS 40 and IAS 41 for assets subject to operating leases. [IFRS 16.96].

A lessor discloses a maturity analysis of lease payments, showing the undiscounted lease payments to be received on an annual basis for a minimum of each of the first five years and a total of the amounts for the remaining years. [IFRS 16.97].

31
Q

SUBLEASES

A

SUBLEASES

32
Q

Definition

A sublease is a transaction for which an underlying asset is re-leased by a lessee (‘intermediate lessor’) to a third party, and the lease (‘head lease’) between the head
lessor and lessee remains in effect.
[IFRS 16 Appendix A].

A

Lessees often enter into arrangements to sublease a leased asset to a third party while the original lease contract is in effect. In these arrangements, one party acts as both the lessee and lessor of the same underlying asset. The original lease is often referred to as a head lease, the original lessee is often referred to as an intermediate lessor or sublessor and the ultimate lessee is often referred to as the sublessee. In some cases, the sublease is a separate lease agreement. In other cases, a third party assumes the original lease, but the original lessee remains the primary obligor under the original lease.

33
Q

Intermediate lessor accounting 1

If an underlying asset is re-leased by a lessee to a third party and the original lessee retains the primary obligation under the original lease, the transaction is a sublease. That is, the original lessee generally continues to account for the original lease (the head lease) as a lessee and accounts for the sublease as the lessor (intermediate lessor).

A

The intermediate lessor classifies the sublease as a finance lease or an operating lease as follows:

(a) if the head lease is a short-term lease and the entity, as a lessee, has applied the short term recognition exemption, the sublease is classified as an operating lease; or
(b) otherwise, the sublease is classified by reference to the right-of-use asset arising from the head lease, rather than by reference to the underlying asset (for example, the item of property, plant, or equipment that is the subject of the lease). [IFRS 16.B58].

Example 24.20: Classification of a sublease

34
Q

Intermediate lessor accounting 2

The intermediate lessor accounts for the sublease as follows:
• if the sublease is classified as an operating lease, the original lessee continues to account for the lease liability and right-of-use asset on the head lease like any other lease. If the total remaining lease cost on the head lease exceeds the anticipated sublease income, this may indicate that the right-of-use asset associated with the head lease is impaired.
A right-of-use asset is assessed for impairment under IAS 36; or

A

• if the sublease is classified as a finance lease, the original lessee derecognises the right-of-use asset on the head lease at the sublease commencement date and
continues to account for the original lease liability in accordance with the lessee accounting model. The original lessee, as the sublessor, recognises a net
investment in the sublease and evaluates it for impairment.

35
Q

Intermediate lessor accounting 3

In a sublease, if the interest rate implicit in the sublease cannot be readily determined, an intermediate lessor may use the discount rate used for the head lease (adjusted for any initial direct costs associated with the sublease) to measure the net investment in the sublease. [IFRS 16.68].

A

If a lessee subleases, or expects to sublease an asset, the head lease does not qualify as a lease of a low-value asset. [IFRS 16.B7].

36
Q

Intermediate lessor accounting 4

When contracts are entered into at or near the same time with the same counterparty (or related parties of the counterparties), an intermediate lessor is required to consider the criteria for combining contracts (e.g. when the contracts are negotiated with the same counterparty (or related parties of the counterparties) as a package with a single commercial objective,
or when the consideration to be paid in one contract depends on the price or performance of the
other contract).

A

If the contracts are required to be combined, the intermediate lessor accounts for the head lease and sublease as a single combined transaction.

37
Q

Sublessee accounting

A sublessee accounts for its lease in the same manner as any other lease under IFRS 16. See Lessee accounting above.

A

Disclosure

Intermediate lessors, like all lessors, are required to disclose qualitative and quantitative information which gives a basis for users of financial statements to assess the effect that leases have on the financial position, financial performance and cash flows of the lessor.

38
Q

Presentation

According to IAS 1, an entity cannot offset assets and liabilities or income and expenses, unless required or permitted by an IFRS. [IAS 1.32]. Therefore, intermediate lessors are not permitted to offset lease liabilities and lease assets that arise from a head lease and a sublease, respectively, unless those liabilities and assets meet the requirements in IAS 1 for
offsetting. [IFRS 16.BC235]. Similarly, intermediate lessors are not permitted to offset depreciation and interest expenses and lease income relating to a head lease and a sublease of the same underlying asset, respectively, unless the requirements for offsetting in IAS 1 are met. [IFRS 16.BC236

A

For example, intermediate lessors apply the principal-agent provisions requirements in IFRS 15 to determine whether sublease revenue needs to be presented on
a gross or net basis (i.e. reduced for head lease expenses). We believe, intermediate lessors generally will not meet the principal-agent provisions in IFRS 15 to present sublease income on a net basis and therefore will generally present sublease revenue on a gross basis.

39
Q

A sale and leaseback transaction involves the transfer of an asset by an entity (the sellerlessee) to another entity (the buyer-lessor) and the leaseback of the same asset by the
seller-lessee. Because IFRS 16 requires lessees to recognise most leases on the balance
sheet (i.e. all leases except for leases of low-value assets and short-term leases
depending on the lessee’s accounting policy election), sale and leaseback transactions
no longer provide lessees with a source of off-balance sheet financing.

A

If an entity (the seller-lessee) transfers an asset to another entity (the buyer-lessor) and
leases that asset back from the buyer-lessor, both the seller-lessee and the buyer-lessor
assess whether the transfer of the asset is a sale and account for it as described below.
[IFRS 16.98].

40
Q

A sale and leaseback transaction involves the transfer of an asset by an entity (the sellerlessee) to another entity (the buyer-lessor) and the leaseback of the same asset by the seller-lessee. Because IFRS 16 requires lessees to recognise most leases on the balance
sheet (i.e. all leases except for leases of low-value assets and short-term leases depending on the lessee’s accounting policy election), sale and leaseback transactions no longer provide lessees
with a source of off-balance sheet financing.

A

If an entity (the seller-lessee) transfers an asset to another entity (the buyer-lessor) and leases that asset back from the buyer-lessor, both the seller-lessee and the buyer-lessor assess whether the transfer of the asset is a sale and account for it as described below.
[IFRS 16.98].

41
Q

Determining whether the transfer of an asset

is a sale 1

A

no note

42
Q

Determining whether the transfer of an asset

is a sale 2

A

no note

43
Q

Determining whether the transfer of an asset

is a sale 3

A

no note

44
Q

Determining whether the transfer of an asset

is a sale 4

A

no note

45
Q

Determining whether the transfer of an asset

is a sale 5

A

no note

46
Q

Determining whether the transfer of an asset

is a sale 6

A

no note

47
Q

Transactions in which the transfer of an asset

is a sale 1

A

no note

48
Q

Transactions in which the transfer of an asset

is a sale 2

A

no note

49
Q

Transactions in which the transfer of an asset

is a sale 3

A

no note

50
Q

Transactions in which the transfer of an asset

is a sale 4

A

no note

51
Q

Transactions in which the transfer of an asset

is not a sale

A

no note

52
Q

Disclosures

A

no note