IFRIC04 BV.docx

1、IFRIC04 BVIFRIC Interpretation 4Determining whether an Arrangement contains a LeaseThis version includes amendments resulting from IFRSs issued up to 31 December 2008.IFRIC 4 Determining whether an Arrangement contains a Lease was developed by the International Financial Reporting Interpretations Co

2、mmittee and issued by the International Accounting Standards Board in December 2004.IFRIC 4 and its accompanying documents were amended by IFRIC 12 Service Concession Arrangements (issued November 2006).ContentsparagraphsIFRIC Interpretation 4 Determining whether an Arrangement contains a LeaseRefer

3、encesBackground13Scope4Issue5Consensus615Effective date1616ATransition17AppendixAmendments to IFRS 1 Firsttime Adoption of International Financial Reporting StandardsIllustrative ExamplesExample of an arrangement that contains a leaseIE1IE2Example of an arrangement that does not contain a leaseIE3IE

4、4Basis for ConclusionsIFRIC Interpretation 4 Determining whether an Arrangement contains a Lease (IFRIC 4) is set out in paragraphs 117 and the Appendix. IFRIC 4 is accompanied by Illustrative Examples and a Basis for Conclusions. The scope and authority of Interpretations are set out in paragraphs

5、2 and 717 of the Preface to International Financial Reporting Standards.IFRIC Interpretation 4 Determining whether an Arrangement contains a LeaseReferences IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors IAS 16 Property, Plant and Equipment (as revised in 2003) IAS 17 Leases (

6、as revised in 2003) IAS 38 Intangible Assets (as revised in 2004) IFRIC 12 Service Concession ArrangementsBackground1 An entity may enter into an arrangement, comprising a transaction or a series of related transactions, that does not take the legal form of a lease but conveys a right to use an asse

7、t (eg an item of property, plant or equipment) in return for a payment or series of payments. Examples of arrangements in which one entity (the supplier) may convey such a right to use an asset to another entity (the purchaser), often together with related services, include: outsourcing arrangements

8、 (eg the outsourcing of the data processing functions of an entity). arrangements in the telecommunications industry, in which suppliers of network capacity enter into contracts to provide purchasers with rights to capacity. takeorpay and similar contracts, in which purchasers must make specified pa

9、yments regardless of whether they take delivery of the contracted products or services (eg a takeorpay contract to acquire substantially all of the output of a suppliers power generator).2 This Interpretation provides guidance for determining whether such arrangements are, or contain, leases that sh

10、ould be accounted for in accordance with IAS 17. It does not provide guidance for determining how such a lease should be classified under that Standard.3 In some arrangements, the underlying asset that is the subject of the lease is a portion of a larger asset. This Interpretation does not address h

11、ow to determine when a portion of a larger asset is itself the underlying asset for the purposes of applying IAS 17. Nevertheless, arrangements in which the underlying asset would represent a unit of account in either IAS 16 or IAS 38 are within the scope of this Interpretation.Scope4 This Interpret

12、ation does not apply to arrangements that:(a) are, or contain, leases excluded from the scope of IAS 17; or(b) are public-to-private service concession arrangements within the scope of IFRIC 12.Issues5 The issues addressed in this Interpretation are: (a) how to determine whether an arrangement is, o

13、r contains, a lease as defined in IAS 17; (b) when the assessment or a reassessment of whether an arrangement is, or contains, a lease should be made; and(c) if an arrangement is, or contains, a lease, how the payments for the lease should be separated from payments for any other elements in the arr

14、angement.ConsensusDetermining whether an arrangement is, or contains, a lease6 Determining whether an arrangement is, or contains, a lease shall be based on the substance of the arrangement and requires an assessment of whether: (a) fulfilment of the arrangement is dependent on the use of a specific

15、 asset or assets (the asset); and(b) the arrangement conveys a right to use the asset.Fulfilment of the arrangement is dependent on the use of a specific asset7 Although a specific asset may be explicitly identified in an arrangement, it is not the subject of a lease if fulfilment of the arrangement

16、 is not dependent on the use of the specified asset. For example, if the supplier is obliged to deliver a specified quantity of goods or services and has the right and ability to provide those goods or services using other assets not specified in the arrangement, then fulfilment of the arrangement i

17、s not dependent on the specified asset and the arrangement does not contain a lease. A warranty obligation that permits or requires the substitution of the same or similar assets when the specified asset is not operating properly does not preclude lease treatment. In addition, a contractual provisio

18、n (contingent or otherwise) permitting or requiring the supplier to substitute other assets for any reason on or after a specified date does not preclude lease treatment before the date of substitution.8 An asset has been implicitly specified if, for example, the supplier owns or leases only one ass

19、et with which to fulfil the obligation and it is not economically feasible or practicable for the supplier to perform its obligation through the use of alternative assets.Arrangement conveys a right to use the asset9 An arrangement conveys the right to use the asset if the arrangement conveys to the

20、 purchaser (lessee) the right to control the use of the underlying asset. The right to control the use of the underlying asset is conveyed if any one of the following conditions is met: (a) The purchaser has the ability or right to operate the asset or direct others to operate the asset in a manner

21、it determines while obtaining or controlling more than an insignificant amount of the output or other utility of the asset.(b) The purchaser has the ability or right to control physical access to the underlying asset while obtaining or controlling more than an insignificant amount of the output or o

22、ther utility of the asset.(c) Facts and circumstances indicate that it is remote that one or more parties other than the purchaser will take more than an insignificant amount of the output or other utility that will be produced or generated by the asset during the term of the arrangement, and the pr

23、ice that the purchaser will pay for the output is neither contractually fixed per unit of output nor equal to the current market price per unit of output as of the time of delivery of the output.Assessing or reassessing whether an arrangement is, or contains, a lease10 The assessment of whether an a

24、rrangement contains a lease shall be made at the inception of the arrangement, being the earlier of the date of the arrangement and the date of commitment by the parties to the principal terms of the arrangement, on the basis of all of the facts and circumstances. A reassessment of whether the arran

25、gement contains a lease after the inception of the arrangement shall be made only if any one of the following conditions is met: (a) There is a change in the contractual terms, unless the change only renews or extends the arrangement.(b) A renewal option is exercised or an extension is agreed to by

26、the parties to the arrangement, unless the term of the renewal or extension had initially been included in the lease term in accordance with paragraph 4 of IAS 17. A renewal or extension of the arrangement that does not include modification of any of the terms in the original arrangement before the

27、end of the term of the original arrangement shall be evaluated under paragraphs 69 only with respect to the renewal or extension period.(c) There is a change in the determination of whether fulfilment is dependent on a specified asset.(d) There is a substantial change to the asset, for example a sub

28、stantial physical change to property, plant or equipment.11 A reassessment of an arrangement shall be based on the facts and circumstances as of the date of reassessment, including the remaining term of the arrangement. Changes in estimate (for example, the estimated amount of output to be delivered

29、 to the purchaser or other potential purchasers) would not trigger a reassessment. If an arrangement is reassessed and is determined to contain a lease (or not to contain a lease), lease accounting shall be applied (or cease to apply) from: (a) in the case of (a), (c) or (d) in paragraph 10, when th

30、e change in circumstances giving rise to the reassessment occurs;(b) in the case of (b) in paragraph 10, the inception of the renewal or extension period.Separating payments for the lease from other payments12 If an arrangement contains a lease, the parties to the arrangement shall apply the require

31、ments of IAS 17 to the lease element of the arrangement, unless exempted from those requirements in accordance with paragraph 2 of IAS 17. Accordingly, if an arrangement contains a lease, that lease shall be classified as a finance lease or an operating lease in accordance with paragraphs 719 of IAS

32、 17. Other elements of the arrangement not within the scope of IAS 17 shall be accounted for in accordance with other Standards.13 For the purpose of applying the requirements of IAS 17, payments and other consideration required by the arrangement shall be separated at the inception of the arrangement or upon a reassessment of the arrangement into those for the lease and those for other elements on the basis of their relative fair values. The minimum lease payments as defined in paragraph 4 of IAS