Disclosure: Lessors - Operating Lease [IAS 17.56] amounts of minimum lease payments at balance sheet date under noncancellable operating leases in the aggregate and for: the next year; years 2 through 5 combined; beyond five years; contingent rent recognised as in income; and general description of significant...

Disclosure: Lessors - Finance Lease [IAS 17.47] reconciliation between gross investment in the lease and the present value of minimum lease payments; gross investment and present value of minimum lease payments receivable for: the next year; years 2 through 5 combined; beyond five years; unearned finance...

Disclosure: Lessees - Operating Lease [IAS 17.35] amounts of minimum lease payments at balance sheet date under noncancellable operating leases for: the next year; years 2 through 5 combined; beyond five years; total future minimum sublease income under noncancellable subleases; lease and sublease payments...

Disclosure: Lessees - Finance Lease [IAS 17.31] carrying amount of asset; reconciliation between total minimum lease payments and their present value; amounts of minimum lease payments at balance sheet date and the present value thereof, for: the next year; years 2 through 5 combined; beyond five years;...

Sale and Leaseback Transactions For a sale and leaseback transaction that results in a finance lease, any excess of proceeds over the carrying amount is deferred and amortised over the lease term. [IAS 17.59] For a transaction that results in an operating lease: [IAS 17.61] if the transaction is clearly...

Accounting by Lessors The following principles should be applied in the financial statements of lessors: at commencement of the lease term, the lessor should record a finance lease in the balance sheet as a receivable, at an amount equal to the net investment in the lease; [IAS 17.36] the lessor should...

Accounting by Lessees The following principles should be applied in the financial statements of lessees: at commencement of the lease term, finance leases should be recorded as an asset and a liability at the lower of the fair value of the asset and the present value of the minimum lease payments (discounted...

Classification of Leases A lease is classified as a finance lease if it transfers substantially all the risks and rewards incident to ownership. All other leases are classified as operating leases. Classification is made at the inception of the lease. [IAS 17.4] Whether a lease is a finance lease or...

Objective of IAS 17 The objective of IAS 17 (Revised 1997) is to prescribe, for lessees and lessors, the appropriate accounting policies and disclosures to apply in relation to finance and operating leases. Scope IAS 17 applies to all leases other than lease agreements for minerals, oil, natural gas...

Disclosure [IAS 18.35] accounting policy for recognising revenue amount of each of the following types of revenue: sale of goods rendering of services interest royalties dividends within each of the above categories, the amount of revenue from exchanges of goods or services