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Jun 11, 2020 at 09:50 AM

Update on Contracts that contains a Lease or Rental of Assets - IFRS 16

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Dear All,

We would like to inform you that lease asset procured through contract with 17 installments. Original lease term end was 11.06.2020 but that is now extended to 11.08.2020 i.e. for 2 months.

When we change the lease length and number of lease payments, the system adjusts present value only but not the asset value. The depreciation and interest calculation has also adjusted as planned value to post for additional two periods.

We need to increase the asset value to the PV of the 2 instalments.

How to achieve the required.

Regards,