07-01-2009, 07:48 PM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by Queries</i>
<br />
Small company is defined in 5th scheduel as a company having
less than Rs.25 million equity
less than 250 million turnover
less than 250 employess any time in a year
all of above conditions must be met to be treated as small company
My questions are
1.what is the treatment of leases in case of small company.will we treat all the leases as operating lease.
2.if a company is medium sized(as per 5th schedule) in the last year and then become small size in next year what will we do to the lease disclosure.because as per my understanding(please refer to icap standards for small and medium size companies) in case of medium size lease is classified between finance and operating lease but in case of small size all leases are classified as operating.
3.how will we restate last year disclosure.will we restate last year lease from finance to operating or something else.
Any body providing guidance will be highly appreciated.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Please explain, from where did you acquire the following information ,Who has predominated IASs , Could you also send a link ?
"in case of medium size lease is classified between finance and operating lease <b>but in case of small size all leases are classified as operating.</b>
Best Regards,
<br />
Small company is defined in 5th scheduel as a company having
less than Rs.25 million equity
less than 250 million turnover
less than 250 employess any time in a year
all of above conditions must be met to be treated as small company
My questions are
1.what is the treatment of leases in case of small company.will we treat all the leases as operating lease.
2.if a company is medium sized(as per 5th schedule) in the last year and then become small size in next year what will we do to the lease disclosure.because as per my understanding(please refer to icap standards for small and medium size companies) in case of medium size lease is classified between finance and operating lease but in case of small size all leases are classified as operating.
3.how will we restate last year disclosure.will we restate last year lease from finance to operating or something else.
Any body providing guidance will be highly appreciated.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Please explain, from where did you acquire the following information ,Who has predominated IASs , Could you also send a link ?
"in case of medium size lease is classified between finance and operating lease <b>but in case of small size all leases are classified as operating.</b>
Best Regards,
