HKFRS 16 definition

HKFRS 16. Hong Kong Financial Reporting Standard 16 “Leases” issued by the Hong Kong Institute of Certified Public Accountants
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HKFRS 16 the Hong Kong Financial Reporting Standard 16 issued by the Hong Kong Institute of Certified Public Accountants, which sets out the principles for the recognition, measurement, presentation and disclosure of leases “HK$” Hong Kong dollars, the lawful currency of Hong Kong
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HKFRS 16. Hong Kong Financial Reporting Standard 16 “Leases”, effective on 1 January 2019
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Examples of HKFRS 16 in a sentence

  • The value of the right-of-use assets recognised by the Company under the New Tenancy Agreement amounted to approximately HK$15.0 million, which is calculated with reference to the present value of the aggregated lease payments to be made under the New Tenancy Agreement in accordance with HKFRS 16 Leases.

  • Therefore, no right-of-use asset related to the turnover rent is recognized, and the turnover rent will be charged to the profit or loss of the Group in accordance with HKFRS 16 Leases.

  • Since the turnover rent under the New Tenancy Agreement can only be reliably estimated according to the turnover earned under the operation of the Restaurant, such amount constitutes variable lease payments and were not included in the measurement of the lease liability at initial recognition under HKFRS 16 Leases.


More Definitions of HKFRS 16

HKFRS 16. Hong Kong Financial Reporting Standards 16 “Leases”
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HKFRS 16. Hong Kong Financial Reporting Standard 16 “Independent Third Party(ies)” person(s) who is (are) to the best of the Directors’ knowledge, information and belief having made all reasonable enquiries, third party(ies) independent of the Company and connected persons of the Company “Lease Agreement” the lease agreement dated 30 September 2020 entered into between Partytime ▇▇▇▇ ▇▇▇▇▇▇▇ and ▇▇▇▇ ▇▇▇▇▇ Town in relation to the Premises
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HKFRS 16. Hong Kong Financial Reporting Standard 16 “HKS” HKS International Limited, a company incorporated in the British Virgin Islands with limited liability
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HKFRS 16. The Hong Kong Financial Reporting Standard 16 “Leases” issued by the Hong Kong Institute of Certified Public Accountants “Incorporated Owners” the incorporated owners of the building of which the 42F Property and the 49F Property form part from time to time
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