ifric4 - IFRIC 4 IFRIC Interpretation 4 Determining whether...

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IFRIC 4 © IASCF A1009 IFRIC Interpretation 4 Determining whether an Arrangement contains a Lease This version includes amendments resulting from IFRSs issued up to 31 December 2009. IFRIC 4 Determining whether an Arrangement contains a Lease was developed by the International Financial Reporting Interpretations Committee and issued by the International Accounting Standards Board in December 2004. IFRIC 4 and its accompanying documents have been amended by the following IFRSs: •I F R I C 1 2 Service Concession Arrangements (issued November 2006) F R S 9 Financial Instruments (issued November 2009) * * effective date 1 January 2013 (earlier application permitted)
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IFRIC 4 A1010 © IASCF C ONTENTS paragraphs IFRIC INTERPRETATION 4 DETERMINING WHETHER AN ARRANGEMENT CONTAINS A LEASE REFERENCES BACKGROUND 1–3 SCOPE 4 ISSUES 5 CONSENSUS 6–15 EFFECTIVE DATE 16–16A TRANSITION 17 APPENDIX Amendments to IFRS 1 First-time Adoption of International Financial Reporting Standards ILLUSTRATIVE EXAMPLES Example of an arrangement that contains a lease IE1–IE2 Example of an arrangement that does not contain a lease IE3–IE4 BASIS FOR CONCLUSIONS FOR THE ACCOMPANYING DOCUMENTS LISTED BELOW, SEE PART B OF THIS EDITION
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IFRIC 4 © IASCF A1011 IFRIC Interpretation 4 Determining whether an Arrangement contains a Lease (IFRIC 4) is set out in paragraphs 1–17 and the Appendix. IFRIC 4 is accompanied by illustrative examples and a Basis for Conclusions. The scope and authority of Interpretations are set out in paragraphs 2 and 7–17 of the Preface to International Financial Reporting Standards .
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IFRIC 4 A1012 © IASCF IFRIC Interpretation 4 Determining whether an Arrangement contains a Lease References •I A S 8 Accounting Policies, Changes in Accounting Estimates and Errors A S 1 6 Property, Plant and Equipment (as revised in 2003) A S 1 7 Leases (as revised in 2003) A S 3 8 Intangible Assets (as revised in 2004) F R I C 1 2 Service Concession Arrangements Background 1 An entity may enter into an arrangement, comprising a transaction or a series of related transactions, that does not take the legal form of a lease but conveys a right to use an asset (eg an item of property, plant or equipment) in return for a payment or series of payments. Examples of arrangements in which one entity (the supplier) may convey such a right to use an asset to another entity (the purchaser), often together with related services, include: outsourcing arrangements (eg the outsourcing of the data processing functions of an entity). arrangements in the telecommunications industry, in which suppliers of network capacity enter into contracts to provide purchasers with rights to capacity. take-or-pay and similar contracts, in which purchasers must make specified payments regard less o f whether they take de l ivery o f the contracted products or services (eg a take-or-pay contract to acquire substantially all of the output of a supplier’s power generator).
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ifric4 - IFRIC 4 IFRIC Interpretation 4 Determining whether...

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