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IAS 17 classifies leases into two types: an operating lease if the lease does not transfer substantially all the risks and rewards incidental to ownership. IAS 17 prescribes lessee and lessor accounting policies for the two types of leases, as well as disclosures.
IAS 17 sets out the required accounting treatments and disclosures for finance and operating leases by both lessors and lessees, except where IAS 40 is applied to investment property held by a lessee.
The Manual of accounting – IFRS series is our collected insights on the application of International Financial Reporting Standards, the financial reporting language of the global capital markets.
IAS 17 International Accounting Standard 17 Leases Objective 1 The objective of this Standard is to prescribe, for lessees and lessors, the appropriate accounting policies and disclosure to apply in relation to leases. Scope 2 This Standard shall be applied in accounting for all leases other than:
IAS 17 Leases The objective of this Standard is to prescribe, for lessees and lessors, the appropriate accounting policies and disclosure to apply in relation to leases.
31 gru 2022 · A comprehensive guide to the applicable IFRS Accounting Standards, organised by standard. Chapters 01 - Introduction, accounting principles and applicability of IFRS (Conceptual framework)
IAS 17 will be superseded by IFRS 16 Leases as of 1 January 2019. The objective of IAS 17 (1997) is to prescribe, for lessees and lessors, the appropriate accounting policies and disclosures to apply in relation to finance and operating leases.
