Investor Presentaiton

CA Measurement at initial recognition THE INSTITUTE OF CHARTERED ACCOUNTANTS OF SRI LANKA Property held under a lease LKAS 40 sets out the accounting for IP that is held under a finance lease. If required criteria are met for an operating lease to be considered as IP - accounted for as if it is a finance lease Initial cost-LKAS 17 A finance leased asset should be recognised at the asset's fair value or, if lower, at the present value of the minimum lease payments Equivalent amount is recognised as a liability T CA Questions THE INSTITUTE OF CHARTERED ACCOUNTANTS OF SRI LANKA Hand-out 1 Questions 1 & 2 23 24

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