1. Accounting, Auditing, Actuarial
  2. IFRS Foundation & IASB
  3. International Financial Reporting Standards (IFRSs)
  4. 2020
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  1. IFRS 16: Leases
  2. IFRS 16: Basis for Conclusions
  3. Comparison with FASB decisions (para. BC303-BC310)
  4. Recognition exemption for leases of low-value assets (para. BC308)
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Version date: 26 February 2020 - onwards
    Version 1 of 1    

Recognition exemption for leases of low-value assets (para. BC308)

BC308 IFRS 16 permits a lessee not to apply the recognition requirements to leases for which the underlying asset is of low value. The IASB’s reasons are explained in paragraphs BC98-BC104. The FASB decided not to include such an exemption.

Comparing proposed amendment...
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