Discuss whether you agree with the following exemptions in new lessee accounting. Also identify any potential loophole

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Discuss whether you agree with the following exemptions in new lessee accounting. Also identify any potential loophole concerning these exemptions. Please answer in detail

Exemptions for IFRS 16 does not require a company to recognise assets and liabilities for

(a) short-term leases (ie leases of 12 months or less)

(b) leases of low-value assets(for example, a lease of a personal computer).

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Principles of Auditing and Other Assurance Services

ISBN: 978-0078025617

19th edition

Authors: Ray Whittington, Kurt Pany

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Posted Date: Feb 16, 2024 10:35 PM

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Discuss whether you agree with the following exemptions in new lessee accounting. Also identify any potential loophole

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Exemptions for IFRS 16 does not require a company to recognize assets and liabilities for a shortter... View the full answer

Principles of Auditing and Other Assurance Services

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