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LESSOR ACCOUNTING, IFRS 16 LESSOR ACCOUNTING, SALE & LEASEBACK…
LESSOR ACCOUNTING
Initial Measurement
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Unearned Finance Income release = Net Investment rate implicit period covered. Can get this using amort function in calculator
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- Calc Gross Investment in lease
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- Calc Net Investment in lease
- Calc RATE implicit in the lease.
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Subsequent Measurement
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If held for sale, apply IFRS 5
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Dr Bank (Cashflow) Cr rental income (equalised rental income) Dr/Cr Lease Equalisation reserve (balancing figure)
Lease Equalisation reserve can either be an Asset or a Liability Depending on whether or not the equalised rental income are more or less than the actual Cash flow (Bank) in that specific period
Initial Recognitiom
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Initial direct costs are automatically included in Implicit rate of lease and should not be added separately. (Exception to Manufacturer/Dealer lessors)
Intermediate lessor may use discount rate used in the head lease and adjust for Initial direct costs par68
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