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Asset Lease Extendable term accounting — Cloud Customer Connect
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Asset Lease Extendable term accounting

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Summary:

Dear Experts ,

We want to setup lease is for 10 years with a break option at year 5. Under IFRS16 guidance we interpret that we only show the non-cancellable term of the lease. Which in this case would be 5 years .

However lease can be Extending for 5 years,

Can you please tell us what would be accounting entries for Extendable term .


Thanks,

Rajiv.

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