IFRS 16 Lease Classification
Saket Modi
20 years: Chartered accountant & educator
In the third part of this series, Saket provides an example to explain the application of the definition of lease in IFRS 16. It includes consideration of substantive vs protective rights in determining whether a contract is a lease.
In the third part of this series, Saket provides an example to explain the application of the definition of lease in IFRS 16. It includes consideration of substantive vs protective rights in determining whether a contract is a lease.
IFRS 16 Lease Classification
4 mins 51 secs
In this video, Saket outlines two examples, first an oil company entering into a contract with a ship-owner, and secondly, where a coffee company enters into a contract with an airport operator. In both examples, whether the contract meets the definition of a lease is highlighted.
Key learning objectives:
Using the examples, identify what constitutes as an IFRS 16 Lease
Saket Modi
05:28
01:04
02:51
03:56
08:56
03:13
04:57
04:16
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