Accounting › Revenue & Projects
Lease Accounting
On the balance sheet under IFRS 16 and ASC 842 — which give different answers for the same lease, and a group reporting both needs both.
In Accounting → Revenue & Projects · 7 screens
RecordsLeasesIFRS 16 and ASC 842 give different answers for the same lease, and a group reporting both needs both. The classification is applied rather than typed.OpenRecordsLease ComponentsThree floors and eight parking spaces on one contract. The consideration is allocated across them at relative standalone price — the same problem IFRS 15 has, from the other side.OpenViewLease ScheduleThe whole of the arithmetic: what was paid, how much was interest, how much reduced the liability, and what the asset was depreciated by. Versioned, because a remeasurement supersedes rather than rewrites.OpenViewLease EventsWhat changed, when, and by how much. A remeasurement is an event in its own right and the difference it makes to the liability is a disclosed number.OpenViewLease RunsThe period’s interest, right-of-use depreciation and payments, posted.OpenRecordsLease ChargesThe charges that are not the rent: service charge, tax, insurance, marketing levy, parking. Each with its own basis, frequency and account.OpenViewLease MaturityWhat is payable in each of the next five years and thereafter, undiscounted. A required disclosure, and the table a treasurer reads to see the commitment.Open
Columns, fields and actions
| Screen | Kind | What it is | Columns | Fields | Actions |
|---|---|---|---|---|---|
| Leases | List | IFRS 16 and ASC 842 give different answers for the same lease, and a group reporting both needs both. The classification is applied rather than typed. | 13 | 59 | 4 |
| Lease Components | List | Three floors and eight parking spaces on one contract. The consideration is allocated across them at relative standalone price — the same problem IFRS 15 has, from the other side. | 8 | 12 | 0 |
| Lease Schedule | Read-only list | The whole of the arithmetic: what was paid, how much was interest, how much reduced the liability, and what the asset was depreciated by. Versioned, because a remeasurement supersedes rather than rewrites. | 12 | 0 | 0 |
| Lease Events | Read-only list | What changed, when, and by how much. A remeasurement is an event in its own right and the difference it makes to the liability is a disclosed number. | 10 | 0 | 0 |
| Lease Runs | Read-only list | The period’s interest, right-of-use depreciation and payments, posted. | 9 | 0 | 1 |
| Lease Charges | List | The charges that are not the rent: service charge, tax, insurance, marketing levy, parking. Each with its own basis, frequency and account. | 10 | 18 | 0 |
| Lease Maturity | Read-only list | What is payable in each of the next five years and thereafter, undiscounted. A required disclosure, and the table a treasurer reads to see the commitment. | 7 | 0 | 0 |