Question: 1.What differentiate MFRS 16 from MFRS 117? 2.Why do you think MFRS 16 is needed to replace MFRS 117? 3.Who will be impacted the most

1.What differentiate MFRS 16 from MFRS 117?
2.Why do you think MFRS 16 is needed to replace MFRS 117?
3.Who will be impacted the most by MFRS 16; lessee or lessor? Justify your answer.
Explain in 600-800 words

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

In this exercise, you will complete the Restaurant Tip application from Chapter 2s Focus on the Concepts lesson. The applications Planning Chart is shown in Figure 3-34. a. Use either a flowchart or...

Q:

1.What differentiate MFRS 15 from MFRS 111 and MFR 118? 2.Why do you think MFRS 15 is needed to replace MFRS 111 and MFR 118? 3.How were business will be impacted the most by MFRS 15? Why? Explain in...

Q:

(Please note: Do answer fast as possible , try answer in 30 minutes and sent . It very urgent ) QUESTION 1 On 1 January 2020, Teguh Manufacturing Berhad (TMB) entered into an arrangement with Aqil...

Q:

One EMdibee Corporation Statements of Financial Position as at 31 July 2017 (Group) 2017 RM Note 2016 RMM SSETS Now-Crreet Assety Property. plant and equipment Investment properties Trade and other...

Q:

One EMdibee Corporation Statements of Financial Position as at 31 July 2017 (Group) 2017 RM 2016 RM Note ASSETS Non-Current Assets Property, plant and equipment 364.414 265.471 167.526 365,093 10...

Q:

you want me attach annual report ? here I don't have space to upload . how to upload? 1. Refer to the selected public listed company of Bursa Malaysia and access its financial statements for the year...

Q:

Expand example 7.2 for accounting for lessee, for payment of consideration made at 30 december 2019 Example 7.2 Accounting Treatment by Lessee Saiyer Bhd. leases a piece of office furniture from...

Q:

Tuna Fish Corporation manufactures tuna, mackerel and sardine into cans, and distributes them to wholesalers. The following information describes the fishes manufactured as inventory as at 30...

Q:

Question 1 (A) MFRS 13 Fair Value Measurement standard outlines the guidelines pertaining to the measurement of fair value of assets and liabilities. Required : a) Explain "fair value" in accordance...

Q:

1.What differentiate MFRS 15 from MFRS 111 and MFR 118? 2.Why do you think MFRS 15 is needed to replace MFRS 111 and MFR 118?

Q:

Use annual report of 7-eleven 2020 or 2021 (Either one) and follow the instructions: 2.1 annual report should include the reporting of MFRS136, MFRS 9, and MFRS 16. 2.2 Explain the presentations of...

Q:

Identify a growth industry, a mature industry, and a declining industry. For each industry, identify the following: (a) The number and size distribution of companies; (b) The nature of barriers to...

Q:

A 285-kg load is lifted 22.0m vertically with an acceleration a = 0.160g by a single cable. Determine (a) The tension in the cable, (b) The net work done on the load, (c) The work done by the cable...

Q:

A sales ticket is a document created as evidence of a sale in a retail business. True False

Q:

Which of the following are considered temporary storage