Yakub02
Banned
IFRS 16 applies to all leases except for:
leases to explore for or use minerals, oil etc.; leases of biological assets (IAS 41);
service concession arrangements (IFRIC 12);
licences of intellectual property granted by a lessor (within the scope of IFRS 15); and
rights held under licensing agreements within the scope of IAS 38 e.g. patents and copyrights (a lessee can, but is not required to, apply IFRS 16 to leases of other intangible assets). IFRS 16 specifies the accounting for an individual lease.
However, as a practical expedient the rules can be applied to a portfolio of leases with similar characteristics as long as there is a reasonable expectation that the effects on the financial statements would not differ materially from applying the rules to the individual leases of the portfolio.
A lease might cover the use of several assets. Such a lease might be split into separate lease components. The right to use an asset is a separate lease component if both:
the lessee can benefit from use of the underlying asset either on its own or together with other resources that are readily available to it; and the asset is neither highly dependent on, nor highly interrelated with, the other underlying assets in the contract.
leases to explore for or use minerals, oil etc.; leases of biological assets (IAS 41);
service concession arrangements (IFRIC 12);
licences of intellectual property granted by a lessor (within the scope of IFRS 15); and
rights held under licensing agreements within the scope of IAS 38 e.g. patents and copyrights (a lessee can, but is not required to, apply IFRS 16 to leases of other intangible assets). IFRS 16 specifies the accounting for an individual lease.
However, as a practical expedient the rules can be applied to a portfolio of leases with similar characteristics as long as there is a reasonable expectation that the effects on the financial statements would not differ materially from applying the rules to the individual leases of the portfolio.
A lease might cover the use of several assets. Such a lease might be split into separate lease components. The right to use an asset is a separate lease component if both:
the lessee can benefit from use of the underlying asset either on its own or together with other resources that are readily available to it; and the asset is neither highly dependent on, nor highly interrelated with, the other underlying assets in the contract.