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Key money to lessor for acquiring rights in the business.


shakeel (GFM)     17 February 2021

shakeel
GFM 
 38 points

| My Other Post

A key money has been paid to the lessor to acquire interest in his running business. How it should be treated in accounts as per IFRS 16 or any other standard?

yasaswi gomes

yasaswi gomes (My grammar is 💯 good I)     17 February 2021

yasaswi gomes
My grammar is 💯 good I 
 187 likes  3403 points

View Profile | My Other Post

Key money is rentals? Acquiring interest in lessor business is consolidation standard and to understand the nature of acquisition it is business combinations standard.

shakeel

shakeel (GFM)     17 February 2021

shakeel
GFM 
 38 points

View Profile | My Other Post

Lessor is already running business on the premises where he is willing to share half portion with lessee on condition of regular sharing of rentals and a non refundable key money payable in the begining.

yasaswi gomes

yasaswi gomes (My grammar is 💯 good I)     17 February 2021

yasaswi gomes
My grammar is 💯 good I 
 187 likes  3403 points

View Profile | My Other Post

Sry about that, yes only IFRS 16, IAS 40 & IAS 16 (as long as it is held as PPE) Standards are applicable to lessor.


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