Question 4: How should I manage the cash outflow for leases? Since the tool will post these expenses to a separate account, they can also be displayed separately in LucaNet. In this case, however, you must disclose these expenses in the notes. Variable lease payments that are not linked to an index or price are to be recognized as expenses and not included in the measurement of the lease liability. Question 3: How do I proceed with expenses for variable lease payments that are not included in the lease liability? In this case, you are not required to include the corresponding expenses in the disclosures.
An exemption also applies to short-term leases lasting no longer than one month. The tool for lease accounting provides for clear separation of the related expenses. If you take advantage of this exemption, you will need to disclose the expenses from such contracts separately in line with IFRS 16.53(c) and (d). Question 2: How can I manage expenses relating to short-term leases and leases relating to low-value assets?Īccording to IFRS 16.6, recognizing assets and liabilities for short-term leases (those lasting no longer than one year) and leases involving underlying assets of low value is optional. In addition, you can use the tool for lease accounting to break down to the carrying amounts of right-of-use assets by asset class in accordance with IFRS 16.53(j). The individual asset classes will then be presented in a clearly arranged overview. With the solution for lease accounting, you can add an asset class to each contract as separate information and then append it to IFRS 16 accounts as a suffix. Question 1: How do I proceed with disclosures for each asset class?Īccording to IFRS 16.53(a), lessees are required to present a breakdown of depreciation on right-of-use assets by asset class. The drop-down function makes it easy to bring up values pertaining to your individual leases in either the cost center dimension or the partner dimension. In the tool for lease accounting, quantitative disclosures are presented in a separate statistical ledger.
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