IFRS 16 BASIS FOR CONCLUSIONS ஽ IFRS Foundation25 27. Z�s�^pY��� 9 0 obj Introduction BC1 This Basis for Conclusions summarises the considerations of the International Accounting Standards Board (IASB) and US Financial Accounting Standards Board (FASB) in reaching the conclusions in the exposure draft Leases. The proposals may be modifie 0000025210 00000 n This basis for conclusions accompanies, but is not part of, this Standard. 0000001476 00000 n Amendments to IFRS 15 Revenue from Contracts with Customers Paragraphs 26, 27 and 29 are … 0000025658 00000 n 4 0 obj 0000000016 00000 n 0000011682 00000 n 0000020772 00000 n 144 59 BC3-BC4) Why the need to change previous accounting? Leases. 0000019664 00000 n endobj Does IFRS 16 apply to service contracts? It is intended to provide context for the Board’s decision at the time that it was made. 12 0 obj with IFRS 16 as set out in the Annex to this Regulation. endobj 0 0000002301 00000 n N'��)�].�u�J�r� In addition, IFRS 16 does not provide guidance on the various types of arrangements between the lessor and the lessee that may satisfy this definition (with the exception of the Illustrative Example 13 which has subsequently been amended by the IASB [ 172 kb ]). Basis for Conclusions on IFRS 15 Revenue from Contracts with Customers This Basis for Conclusions accompanies, but is not part of, IFRS 15. The Standard and the Basis for Conclusions do not elaborate on this definition. 0000021020 00000 n 0000026302 00000 n 0000003050 00000 n IFRS 16, ‘Leases’, defines a lease as a contract, or part of a contract, that conveys the right to use an asset (the underlying asset) for a period of time in exchange for consideration. 0000040663 00000 n establishes principles for the recognition, measurement, presentation and disclosure of insurance contracts. 5 0 obj IFRS ® Standards Exposure Draft ED/2019/7 Basis for Conclusions December 2019 General Presentation and Disclosures Comments to be received by 30 September 2020 Comment deadline changed from 30 June 2020 because of the covid-19 pandemic. 0000040120 00000 n This Basis for Conclusions accompanies the proposed International Financial Reporting Standard (IFRS) set out in the exposure draft Financial Instruments: Classification and Measurement (see separate booklet). 0000038949 00000 n �:4}�~��&����� -p�����p�����~��=�ρV�/���A�Gv`��6�? Need help? (IFRS for SMEs) Basis for Conclusions. Prospective amendments. H���yTSw�oɞ����c [���5la�QIBH�ADED���2�mtFOE�.�c��}���0��8�׎�8G�Ng�����9�w���߽��� �'����0 �֠�J��b� Or book a demo to see this product in action. 0000035174 00000 n BC1. "F$H:R��!z��F�Qd?r9�\A&�G���rQ��h������E��]�a�4z�Bg�����E#H �*B=��0H�I��p�p�0MxJ$�D1��D, V���ĭ����KĻ�Y�dE�"E��I2���E�B�G��t�4MzN�����r!YK� ���?%_&�#���(��0J:EAi��Q�(�()ӔWT6U@���P+���!�~��m���D�e�Դ�!��h�Ӧh/��']B/����ҏӿ�?a0n�hF!��X���8����܌k�c&5S�����6�l��Ia�2c�K�M�A�!�E�#��ƒ�d�V��(�k��e���l ����}�}�C�q�9 Introduction. Individual Board members gave greater weight to some factors than to others. Basis for Conclusions on IFRS 16. <>/Font<>>>/Fields[]>> This basis for conclusions summarizes the Board’s considerations in reaching the conclusions in Topic 842, Leases. 0000018731 00000 n BC19-BC40) BC19-BC21; Rights and obligations arising from a lease that create assets and liabilities for the lessee (paras. IFRS 16 does not change the accounting for services. 0000002836 00000 n Download PDF [172 kb] Lease … Individual board members gave greater weight to some factors than to others. endobj 0000036702 00000 n DISSENTING OPINION APPENDIX Amendments to the Basis for Conclusions on other Standards ILLUSTRATIVE EXAMPLES (see separate booklet) APPENDIX Amendments to guidance on other Standards IFRS 16 LEASES—JANUARY 2016 IFRS Foundation 4. We can create a package that’s catered to your individual needs. 0000038466 00000 n 0000020896 00000 n Introduction. This Basis for Conclusions accompanies, but is not part of, the draft IFRS. 0000040045 00000 n 202 0 obj <>stream 0000013646 00000 n BC7-BC15) Overview of the approach taken in the Standard (paras. <>stream IFRS 9 replaced IAS 39 Financial Instruments: Recognition and Measurement. 0000020648 00000 n This Basis for Conclusions and its appendix accompany, but are not part of, IFRS 3. 0000012935 00000 n 0000035135 00000 n Insurance Contracts. This Basis for Conclusions accompanies the Exposure Draft ED/2019/7 General Presentation and Disclosures (issued December 2019; see separate booklet). BASIS FOR CONCLUSIONS ON IFRS 16 LEASES (see separate booklet) INTERNATIONAL FINANCIAL REPORTING STANDARD 3 IFRS Foundation. Download pdf. Intangible assets BC70 IFRS 16 excludes from its scope rights held by a lessee under licensing agreements within the scope of IAS 38 Intangible Assets for such items as motion picture films, video recordings, plays, manuscripts, patents and copyrights. 0000038391 00000 n endstream endobj 145 0 obj <>>>/Metadata 142 0 R/Outlines 117 0 R/PageLayout/TwoColumnRight/Pages 138 0 R/Type/Catalog/ViewerPreferences<>>> endobj 146 0 obj <>/XObject<>>>/Rotate 0/Tabs/W/Thumb 118 0 R/TrimBox[0.0 0.0 841.89 595.276]/Type/Page>> endobj 147 0 obj <>stream Basis for Conclusions on IFRS 9 Financial Instruments This Basis for Conclusions accompanies, but is not part of, IFRS 9. 0000019148 00000 n �ꇆ��n���Q�t�}MA�0�al������S�x ��k�&�^���>�0|>_�'��,�G! IFRS 17 replaces IFRS 4 . It summarises the considerations of the International Accounting Standards Board (the Board) in developing IFRS 17. }"�A�qH8>ᘤ�2��,���G,]�L�$:�@8*:�ThhZ:T�5��j`riip-,.�` �II $V*(7�4aFA1���Va G��p����{G#��:�M�@�QLj�@���!I���)�Q�i������M�,8O�(�rxՐ�p����� ����AC8�!�n� �b�� �>� �l� ���\�� lE���06H�y�� F Amendments to HKFRS 16 Leases BASIS FOR CONCLUSIONS ON IFRS 16 LEASES (see separate booklet) DISSENTING OPINION APPENDIX APPENDICES A Amendments to the Basis for Conclusions on other Standards B Covid-19-Related Rent Concessions Amendment to the Basis for Conclusions on IFRS 16 … 3 0 obj Introduction (paras. 0000021144 00000 n 0000013562 00000 n Reasons for accepting particular views and rejecting others it was made part of, IFRS 16 set. ; see separate booklet ) but is not part of, IFRS 16 Presentation Disclosures... 39 Financial Instruments: Recognition and Measurement on this definition the accounting for services Conclusions IFRS. 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