Ias17

EC staff consolidated version as of 24 March 2010, FOR INFORMATION PURPOSES ONLY EN EU IAS 17 International invoice ideal 17 Leases Objective 1 The objective of this Standard is to prescribe, for lessees and lessors, the portion accounting policies and disclosure to take to in relation to consumes. Scope 2 This Standard sh in every last(predicate) be applied in accounting for every last(predicate) claims other than: (a) (b) leases to explore for or use minerals, oil, natural cast and similar non-regenerative resources; and licensing arrangements for such items as motion picture films, in writing(p) matter recordings, plays, manuscripts, patents and copyright wings. However, this Standard shall non be applied as the grounding of measurement for: (a) (b) (c) (d) 3 property held by lessees that is accounted for as investiture property (see IAS 40 Investment Property); investment property provided by lessors infra direct leases (see IAS 40); biological assets held by lessees downstairs finance leases (see IAS 41 Agriculture); or biological assets provided by lessors under operating leases (see IAS 41). This Standard applies to agreements that transfer the right to use assets yet though substantial services by the lessor may be called for in connection with the operation or maintenance of such assets.

This Standard does not apply to agreements that are contracts for services that do not transfer the right to use assets from one undertake caller to the other. Definitions 4 The following terms are use in this Standard with the meanings specified: A lease is an agreement whereby t he lessor conveys to the lessee in return fo! r a payment or serial publication of payments the right to use an asset for an agreed period of time. A finance lease is a lease that transfers substantially all the risks and rewards nonessential to ownership of an asset. Title may or may not eventually be transferred. An operating lease is a lease other than a finance lease. A non-cancellable lease is a lease that is cancellable only: (a) (b) (c) upon...If you want to get a plenteous essay, order it on our website: BestEssayCheap.com

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