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FR B Leases under IFRS 16 in detail

Written by Fahad Mirza (ACCA)

اے سی سی اے · مالیاتی رپورٹنگ · 10 سوالات

نام: ____________________   تاریخ: ____________

  1. Under IFRS 16 a lessee first measures the lease liability at:

    • A The fair value of the leased asset
    • B The first year's payment only
    • C The present value of the lease payments not yet paid
    • D The total of all the lease payments

  2. Which rate is used first to discount the lease payments?

    • A The lessee's return on equity
    • B The inflation rate
    • C The rate implicit in the lease
    • D The bank base rate

  3. A lessee leases equipment for 3 years with payments of $10,000 a year in arrears. The annuity factor at 8 percent is 2.5771. The right-of-use asset at the start is, ignoring other costs:

    • A $10,000
    • B $27,771
    • C $30,000
    • D $25,771

  4. A right-of-use asset is normally depreciated over:

    • A Always the lease term
    • B The shorter of the lease term and its useful life
    • C Always its useful life
    • D Ten years

  5. Which lease may a lessee choose not to capitalise?

    • A A five year lease of a building
    • B A lease of 12 months or less without a purchase right
    • C A three year lease of a vehicle
    • D Any lease with fixed payments

  6. At the end of year 1 a lease liability is $66,242. Interest for year 2 will be $5,299 and the year 2 payment is $20,000. The current liability at the end of year 1 is:

    • A $14,701
    • B $5,299
    • C $20,000
    • D $66,242

  7. Variable lease payments that depend on a percentage of the lessee's sales are:

    • A Ignored completely
    • B Included in the lease liability
    • C Expensed as they arise and left out of the liability
    • D Added to the right-of-use asset

  8. For a capitalised lease the lessee's statement of profit or loss shows:

    • A A finance cost only
    • B Nothing until the lease ends
    • C Depreciation and a finance cost
    • D A single operating lease rental

  9. Initial direct costs paid by the lessee at the start of a lease are:

    • A Added to the cost of the right-of-use asset
    • B Added to the lease liability
    • C Deducted from the lease liability
    • D Expensed immediately

  10. Compared with the old treatment of operating leases, IFRS 16 usually makes a lessee's gearing:

    • A Zero
    • B Lower
    • C Higher
    • D The same

جوابی کلید

1. C, 2. C, 3. D, 4. B, 5. B, 6. A, 7. C, 8. C, 9. A, 10. C

  1. The liability is the present value of the remaining payments.

  2. The lessee's incremental borrowing rate is used only if the implicit rate cannot readily be determined.

  3. 10,000 x 2.5771 = 25,771.

  4. If ownership passes to the lessee the useful life is used.

  5. This is the short-term lease exemption.

  6. The current part is the payment less the interest, 20,000 - 5,299 = 14,701.

  7. Only variable payments that depend on an index or rate are included.

  8. IFRS 16 replaces the rental expense with depreciation and interest.

  9. They form part of the cost of the asset.

  10. A lease liability that was not shown before is now recognised, so debt rises.