IFRS 16 LEASES | LESSORS and LESSEES with Journal Entries
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- čas přidán 4. 08. 2022
- In this lesson, we explain IFRS 16 Leases. We explain leases from the perspective of a lessor and leases from the perspective of the lessee. We show the lessee's and lessors' initial measurement journal entries and subsequent measurement journal entries. We show how to account for a finance lease and operating lease for non-manufacturer/dealer lessor and manufacturer/dealer lessor.
Introduction to Leases: Lessor (IFRS 1: • Introduction to Leases...
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Hi sir, I'm Mariam from UPSI, thank you sir for the video . Based on this video, i can understand the lessee's and lessors' initial measurement journal entries and subsequent measurement journal entries and how to account for a finance lease and operating lease for lessor. Thank you for the good explanation sir
Good day sir. I'm Mariah ester george , an accounting student from UPSI, Malaysia. Thank you for sharing this video with us.This video taught me how to differentiate between finance leases and operating leases under IFRS 16, all leases should account in the same manner, recognizing a right-of-use asset and a lease liability.
Good evening sir, I’m Izzati Nabilah Binti Azhar from UPSI, thank you sir for sharing video regarding leases under MFRS 16 it was really helpful. From this video, I understand that lease is a contract that conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Lease are divided into two which is finance lease and operating lease. For a lease to be classified as a finance lease, at least one of the following requirements must be met. For example, by the end of the lease term, the lease transfer ownership of the asset to the lessee.
Good evening, sir. I'm Kausalyaa, an accounting student from UPSI in Malaysia. Thank you, sir, for expressing this video with us about that subject. I thanks for your explanation, which is very straightforward and simple to follow. This video has helped me better understand the differences in the accounting treatment of operating and finance leases under IFRS 16 Leases. This differentiation has an impact on the acknowledgment of revenue, expenses, and profits, outlining the level of detail and variation of lease accounting standards according to the form of lease and the roles of the individuals.
Hi sir, I am Mohamad Ibtisam bin Ibrahim from UPSI, based on this video of IFRS 16, leases, i have learned that lease is a contract that conveys the right to control the use of an identified asset for a period of time in exchange for consideration. And lease is divided to two which is finance lease and operating lease, thankyou sir for this useful video.
Hi sir, I am Shazwan a accounting student from Malaysia. Thank you for the explanation about IFRS 16 leases. Throughout this video I understand that there is type of leases that is finance leases and operating leases. Other than that, I finally know how to record any necessaries journal for the leases required under IFRS 16 leases.
Good day Sir, I am Thevamalar Vengadeshwaran from UPSI. Thank you so much for your useful and knowledgeable sharing on IFRS 16 Leases Sir. From this video, I learned and gained a clear vision on the difference between finance lease and operating lease.
Hello Sir. I am Shree Kailaashinii, accounting student from UPSI. Through your video I understand the accounting treatment between finance leases and operating leases under IFRS, particularly emphasizing how these treatments differ based on whether the entity is a manufacturer/dealer or not. This difference impacts how revenue, costs, and profits are recognized, highlighting the complexity and variability in lease accounting standards depending on the nature of the lease and the roles of the parties involved. Thank you for the understandable explanation sir!
Hi sir, I am Nur Hidayah , an accounting student from UPSI, Malaysia. Thank you sir for this sharing on IFRS 16 Leases. Based on the video, I can understand between lessee and lessor initial recognition and the treatment for both. I clearly understand the explanation of finance lease and operating leases.
Good day Sir, Im Iswerya Lingam Gounder from UPSI. Thank you for your great explanation. From this video i learned about the defination of the lease under IFRS 16, Finance Lease vs. Operating Lease. A finance lease transfers substantially all the risks and rewards incidental to ownership of the underlying asset to the lessee. Any lease that does not meet the criteria for a finance lease is classified as an operating lease. The different between lessees and lessors. Lessees are no longer classify leases as finance or operating. All leases are treated similarly, recognizing a right-of-use asset and a lease liability. For lessors, the classification remains the same as under IAS 17. They must classify leases as either finance or operating. I also learned how to record the accounting for operating leases by lessors.
Good afternoon sir, I’m Nur Amna Sabrina binti Ab.Aziz from UPSI. Thank you for your sharing regarding the IFRS 16, leases. I learned that lease is a contract is a contract that conveys the right to control the use of an identified asset for a period of time in exchange for consideration. And lease is divided to two which is finance lease and operating lease.
Good evening sir. I'm Tan Yee Theng, an accounting student from UPSI, Malaysia. Thank you sir for sharing this video to us regarding this topic, I'm very appreciate the explanation from sir is very clear and easy to understand. Through this video, now I have a better understanding of the differences in the accounting treatment of operating and finance leases under IFRS 16 Leases. In this video also highlights how these treatments vary depending on whether the firm is a manufacturer or dealer. This distinction affects the recognition of revenue, expenses and profits and emphasizes the complexity and variation of lease accounting standards based on the type of lease and the roles of the parties. Thanks again to sir for sharing the knowledge in this platform to help us to understand more clearly about this topic.
Good day Sir, I'm Veshallini Karthigesufrom UPSI, thankyou sir for your willing to make an explanation video about lessors and lessees. I now understand what a lease is and that there are two types of leases: operating and financing. Thank you for the video. Lessors should record a lease receivable in the SOFP, and lessees have the option to purchase at an estimated price that is sufficiently less than fair value.
Thank you very much for your clear efforts and professional explanation .
Brilliant. Thank you for your excellent content
Good day Sir, I am Asmaul 'Husna Binti Mohammad Razif student from UPSI, Malaysia. Thank you Sir for sharing explanation about lease. I have learn about the type of the lease that is finance lease and operating lease and how to record journal of each type of the lease. Thank you Sir!.
Thank you so much
Good afternoon Sir, I'm Mardhiah binti Borhan from UPSI, thankyou sir for your willing to make an explanation video about lessors and lessees. According to this video, i can understand what is lease, and lease are divided into two which is finance lease and operating lease. Other than that, lessee has an option to purchase at expected price that is sufficiently lower than fair value and lessors should recognize a lease receivable in the SOFP.
Greetings sir. I’m Nursyafiqah and accounting student from Malaysia. From this video ive got to learn that under IFRS 16, lessees no longer classify leases under either finance or operating but account for all leases in the same way, However lessor still classify leases under either finance or operating lease.
Great lesson !!