Ias17

EC staff consolidated version as of 24 March 2010, FOR INFORMATION PURPOSES ONLY

EN EU IAS 17

International invoice ideal 17 Leases
Objective
1 The objective of this Standard is to prescribe, for lessees and lessors, the portion accounting policies and disclosure to apply in relation to consumes.

Scope
2 This Standard sh in all be applied in accounting for all leases other than: (a) (b) leases to explore for or use minerals, oil, natural float and similar non-regenerative resources; and licensing agreements for such items as motion picture films, pictorial matter recordings, plays, manuscripts, patents and copyright wings.

However, this Standard shall non be applied as the grounding of measurement for: (a) (b) (c) (d) 3 property held by lessees that is accounted for as investiture property (see IAS 40 Investment Property); investment property provided by lessors under direct leases (see IAS 40); biological assets held by lessees under finance leases (see IAS 41 Agriculture); or biological assets provided by lessors under operating leases (see IAS 41).

This Standard applies to agreements that transfer the right to use assets even though substantial services by the lessor may be called for in connection with the operation or maintenance of such assets.



This Standard does not apply to agreements that are contracts for services that do not transfer the right to use assets from one contracting caller to the other.

Definitions
4 The following terms are used in this Standard with the meanings specified: A lease is an agreement whereby the lessor conveys to the lessee in return for a payment or series of payments the right to use an asset for an agreed period of time. A finance lease is a lease that transfers substantially all the risks and rewards nonessential to ownership of an asset. Title may or may not eventually be transferred. An operating lease is a lease other than a finance lease. A non-cancellable lease is a lease that is cancellable only: (a) (b) (c) upon...If you want to get a plenteous essay, order it on our website: Orderessay



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