IFRS 16 / Ind AS 116: Journal Entries for Dual change in Leasing Scope

The session discusses the accounting entries for Lease modification under IFRS 16 / Ind AS 116 when the scope has both decreased and increased at the same time

[@michellesinyinliew8062]

you are the best! thanks for the sharing of your knowledges.

[@RushSW31]

Thank you, sir, you're videos always help a lot.

[@muhammadhabubacker8890]

Thanks alot. Clear explanation

[@rifatkhurshid3651]

Thanks , explained with clear concepts . Question , you revised PV for Lease Laib and why not for ROU.

[@iceblock2442]

If the agreement to extend the lease happens a day/month after the lease term will it be considered an extension or new lease?

[@AVCLearning]

Likely it's a new lease. However, the facts need to be verified

[@iceblock2442]

@@AVCLearning ok because if its considered a new lease then companies could just be entering into short term leases and deliberately renewing a month after the initial term so as to keep the lease liabilities off balance sheet...I therefore wanted to find out if such an arrangement disqualifies it from being classified as a short term lease

[@AVCLearning]

Think of the business risk that they may not be able to enter into the lease again. This is permissible to enter into contract after the first one gets over and call it a short term lease.

[@traptown5087]

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