LeasesLeases

Leases

D9 A first-time adopter may apply the transitional provisions in Interpretation 4 Determining whether an Arrangement contains a Lease as identified in AASB 1048. Therefore, a first-time adopter may determine whether an arrangement existing at the date of transition to Australian Accounting Standards contains a lease on the basis of facts and circumstances existing at that date.

D9A If a first-time adopter made the same determination of whether an arrangement contained a lease in accordance with previous GAAP as that required by Interpretation 4 (as identified in AASB 1048) but at a date other than that required by Interpretation 4, the first-time adopter need not reassess that determination when it adopts Australian Accounting Standards. For an entity to have made the same determination of whether the arrangement contained a lease in accordance with previous GAAP, that determination would have to have given the same outcome as that resulting from applying AASB 117 Leases and Interpretation 4.

D10 [Deleted by the IASB]

D11 [Deleted by the IASB]