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IFRS Notes

11703


Classification of leases


IAS 17-pr8
Does the lease transfer the risks and rewards of ownership?

(1) If yes, finance lease
(2) If no, operating lease


IAS 17-pr11
When are the risks and rewards of ownership transferred?

(1) Loss of cancellation
Lessor's loss of lease cancellation is assumed by lessee

(2) Continuation of lease term
Lessee can renew the lease contract
at substantially below market rent

(3) Fair value of residual
Lessee assumes gains and losses due to
the changes in fair value of residual
 

   
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