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IAS-17 (LEASE ACCOUNTING) - Printable Version

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IAS-17 (LEASE ACCOUNTING) - - 09-16-2010

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Asalaam o alaikum...!!

Dear All i hv a question regarding IAS - 17,

If we acquired land on lease which is normaly treated as operating lease then what is the mening of lease hold land?? is this finance lease or operating leae?? but some condition given in IAS - 17 that we can take whole class of land & building as finance lease..

my question is that land is in operating lease and we pay rental for that and ownership is not transfer, asset is not recognise and no any depreciation is charge due to un certain echonomic life that whay in the T.B land is shown as lease hold land?? what is the meaning ?? what should we have to fo in this situation in exams???

kindly comments .

thanks & regards


- elyna - 09-17-2010

If the lease is Operataing then Leasehold land can not be shown in TB. Please re-check Qs.