7Ifalesseeaccountsforshort-termleasesapplyingparagraph6,thelesseeshallconsidertheleasetobea newleaseforthepurposesofthisStandardif: (a)thereisaleasemodification;or AASB168STANDARD FederalRegisterofLegislativeInstrumentsF2016L00233 (b)thereisanychangeintheleaseterm(forexample,thelesseeexercisesanoptionnotpreviously...
AASB 16 Leases, a new accounting standard, now requires leasees (eg tenants) to recognise most rental contracts on their balance sheets as assets and liabilities. Under the previous AASB 17 standard, leases were treated as expenses only and recognised off-balance sheet. The change most affects ...
(d) finance charges in respect of finance leases recognised in accordance with AASB 117 Leases; and (e) exchange differences arising from foreign currency borrowings to the extent that they are regarded as an adjustment to interest costs. 7 Depending on the circumstances, any of the following ...