IAS 17 definition

IAS 17 means international accounting standard 17 (Leases) as in effect on the Closing Date.
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IAS 17 means standard 17 (relating to leases) under IFRS.
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IAS 17 means standard 17 (relating to leases) under IFRS. “IAS 39” means standard 39 (relating to financial instruments) under IFRS.
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Examples of IAS 17 in a sentence

  • The enterprise will be applying IAS 17 as its base of interpretation for recognition of classification and recognition of leases.

  • The accounting treatment for lessors will remain largely the same as under IAS 17.

  • The most critical requirement is for the provision of operating leases in line with International Accounting Standards (IAS 17).

  • Fair value for measurement or disclosure purposes in these financial statements is determined on such a basis, except for transactions related to share-based payments that are within the scope of IFRS 2, lease operations that are within the scope of IAS 17, and measurements with similarities to fair value but are not fair value such as net realizable value in IAS 2 or the value in use in IAS 36.

  • The FSC will concern capital leases or other sales-type leases or direct financing leases as defined in SFAS 13 paragraphs 7-8 (as amended from time to time) and IAS 17 paragraphs 5-11, as further defined in Annex 1.The FSC may provide for service and maintenance of the Equipment and Non Equipment (“all-in contract”).

  • The Credit Union has applied IFRS 16 using the modified retrospective approach and therefore the comparative information has not been restated and continues to be reported under IAS 17 and IFRIC 4.

  • IFRS 16 replaces existing leases guidance, including IAS 17 Leases, IFRIC 4 determining whether an Arrangement contains a Lease, SIC-15 Operating Leases – Incentives and SIC-27 Evaluating the Substance of Transactions Involving the Legal Form of a Lease.

  • The Company has made use of the practical expedient not to reassess if a contract is or contains a lease as at 1 January 2019, and has elected to apply IFRS 16 only to those contracts which were identified as leases under IAS 17 and IFRIC 4 at date of initial application.

  • The following are new and revised accounting pronouncements that have been issued but are not yet effective: November 30, 2018 IFRS 16, Leases [“IFRS 16”] In January 2016, the IASB issued the final publication of the IFRS 16 standard, which will supersede the current IAS 17, Leases [“IAS 17”] standard.

  • Under IAS 17, operating lease expenditures were expensed on a straight-line basis over the lease term whereas under IFRS 16, there is an increased focus on control of the underlying asset.

Related to IAS 17

  • IASB means the International Accounting Standards Board;

  • International Financial Reporting Standards means the International Financial Reporting Standards issued by the International Accounting Standards Committee, and as adopted by the Canadian Institute of Chartered Accountants, as amended from time to time;

  • AICPA means the American Institute of Certified Public Accountants.

  • Accounting Standards means the standards of accounting or any addendum thereto for companies or class of companies referred to in section 133;

  • Australian Accounting Standards means the accounting standards made by the Australian Accounting Standards Board in accordance with section 227 of the Australian Securities and Investments Commission Act 2001 (Cth).