Global Standards for the world economy

Sunday 26 March 2017

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IFRS 10 Consolidated Financial Statements: Single-asset, single lessee lease vehicles and the assessment of control under IFRS 10


 Agenda decision

IFRS 10 Consolidated Financial Statements: Single-asset, single lessee lease vehicles and the assessment of control under IFRS 10

The IFRS Interpretations Committee received two requests for clarification about the application of IFRS 10 Consolidated Financial Statements when a structured entity (‘the SE’) is created to lease a single asset to a single lessee. The submitters ask whether the lessee controls the SE and whether the lessee should consolidate the SE (Agenda Paper 12A) or whether the lender controls the SE and should consolidate the SE (Agenda Paper 12B).

Project stages

Deliberations

On 12 May 2015 the Interpretations Committee decided not to add this topic to its agenda.