Lease Ind AS 116
Sagar Acharya (2 Points)
18 November 2022Sagar Acharya (2 Points)
18 November 2022
Yasaswi Gomes new
(Finance )
(4545 Points)
Replied 19 November 2022
Yes. Liability= present value of lease payments+advance payment+direct costs- tax incentives= Right to use asset. Amortised cost method is used. Any modifications are measured at fairvalue eg if lease payments are decreased or increased by lessor.
Yasaswi Gomes new
(Finance )
(4545 Points)
Replied 19 November 2022
Forgot to mention. Leases have a standard and amortised cost is not the right terminology. The nomenclature used here is lease schedule