Transcription of HKFRS 16 – Leases - 會計師事務所
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HKFRS 16 – Leases - 會計師事務所
1 SHINEWING (HK) CPA Limited - Newsletter July 2016 MAIN FEATURESHong Kong Financial Report Standard ( HKFRS ) 16 sets out the principles for the recognition, measurement, presentation and disclosure of Leases for both parties to a contract, the customer ( lessee ) and the supplier ( lessor ). For lessee accounting, HKFRS 16 introduces a single accounting model and requires lessee to recognise assets and liabilities for all Leases , unless the lease term is within 12 months or for which the underlying asset is of low value. For lessor accounting, the accounting requirements are substantially the same as those in HKAS 17. HKFRS 16 supersedes Hong Kong Accounting Standard ( HKAS ) 17 and related ective for annual periods beginning on or after 1 January 2019, with earlier application permitted provided that HKFRS 15 Revenue from Contracts with Customers has been January 2016, The International Accounting Standards Board has issued International Financial Reporting Standard 17 Leases in order to address the public concern on current accounting standards for Leases , especially those r
2 SHINEWING (HK) CPA Limited - Newsletter July 2016 Content of HKFRS 16 (A) Scope Leases to explore for or use minerals, oil, natural gas and similar non-regenerative
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