PPT-A closer look at the new leases standard- Ind AS 116

A closer look at the new leases standard Ind AS 116 CA Dr Sanjeev Singhal CA Amit Jain 1 Content Background 2 Scope 3 New Definition of lease 4 Lessee accounting 5 Lessor accounting 6 Transition. Luc Janssen. Director, Product Management, QAD Inc.. QAD Explore 2012. 2. The following is intended to outline QAD’s general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, functional capabilities, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functional capabilities described for QAD’s products remains at the sole discretion of QAD.. Introduction to Leases. . A lease is a legal contract between a tenant (lessee) and landlord (. lessor. ). Specifies the rights and obligations of the owner and user. A lease divides the “bundle of rights” in real estate into two interests. October . 6, . 2010. This presentation has been prepared to help constituents understand the current status of projects of the FASB and IASB. . The views expressed in this presentation are those of the presenter. Official positions of the FASB and the IASB are reached only after extensive due process and deliberations.. Frankfurt, 12 december 2014. Michiel van der Veen. Questions. What have we been doing with EM so far?. Are we on the right track?. How can we get closer to ‘the golden standard’ of EM? . Past . and. Leases 1April 2015 Applying IFRS A . CLOSER. LOOK. A CLOSER LOOK. 1.. A study completed in 2007, revealed that even though 83% of Americans said that they pray at least once a week, approximately how many Americans said that they “read the Bible outside of church worship services.”. Frankfurt, 12 december 2014. Michiel van der Veen. Questions. What have we been doing with EM so far?. Are we on the right track?. How can we get closer to ‘the golden standard’ of EM? . Past . and. Lease Accounting and. Operational Implications. Tim Shepard . Senior Manager, Financial Accounting Advisory Services. Ernst & Young LLP. November 18, 2016. Disclaimer. These slides are for educational purposes only and are not intended, and should not be relied upon, as accounting advice.. Leases Project. Overview. Identify a lease. Lessee: how big the liability will be?. Lessor accounting: what has changed?. Other lease accounting issues. Transition provisions. What do you need to do to get ready for 2019?. Luc Janssen. Director, Product Management, QAD Inc.. QAD Explore 2012. 2. The following is intended to outline QAD’s general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, functional capabilities, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functional capabilities described for QAD’s products remains at the sole discretion of QAD.. . May 25, 2017. Our webinar will begin shortly. .. ASC 842: Are you ready for the new lease accounting standards?. . May 25, 2017. Bob Roll. Melissa Lacy. Questions. . 3. How to ask a question during today’s webinar?. Identify a lease. Lessee: how big the liability will be?. Lessor accounting: what has changed?. Other lease accounting issues. Transition provisions. What do you need to do to get ready for 2019?. Agenda. Tuesday, March 21, 2017. This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax or other professional advice. Please refer to your advisors for specific advice.. Jeff Jensen, CPA . © 2017 Crowe . LLP. Polling Question #1. Which of the following best describes your experience related to GASB 87? . I have read through GASB 87 and have already began taking inventory of our leases and determining how each will be reported.