IFRS werkcollege 2.docx - IFRS werkcollege 2 If companies...

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IFRS werkcollege 2 If companies incur expenditure, that expenditure can end up as and expense on the income statement or an asset on the balance sheet which then gets amortized. Recognition of assets: Probable future economic benefits flowing to the entity and its cost can be reliably measured. Normal repair and maintenance = expensed Large engine overhaul that has probable future economic benefits = capitalized
When leasing an aircraft you only recognize an asset for the period which you use it. Onder 5k

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