Conciliation and ROU: Difference between pages

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imported>Doug Williamson
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imported>Doug Williamson
(Create page. Source: The Treasurer, September 2017, p40.)
 
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1.  ''Dispute resolution - international.''
''Lease accounting - International Financial Reporting Standard 16 (IFRS 16)''


In the international context, conciliation is designed to be a peaceful method of alternative dispute resolution.
In the lease accounting context, ROU means Right of Use.


With the agreement of the parties, the matter under dispute is referred to independent conciliators.


The conciliators investigate, and then produce a report with proposals for a settlement.
<span style="color:#4B0082">'''''Operating lessees must report an ROU asset'''''</span>


However, there is no legal obligation on the parties to accept the proposals in the conciliators' report.
:"The major change for lessees [under IFRS 16] is that all operating leases must be reported on balance sheet through the creation of a right of use (ROU) asset and corresponding liability.


:The ROU asset is calculated based on the present value of future rental cash flows discounted at the rate implicit in the lease or, if this is not available, the incremental borrowing rate, and depreciated over the remaining lease term."


2.  ''Dispute resolution - domestic.''
:''The Treasurer magazine, September/October 2017, p40 - Paul Lippitt and Armaghan Haq.''


Similar activities in the domestic context, especially employment.


 
==See also==
== See also ==
*[[Finance lease]]
* [[Adjudication]]
*[[Operating lease]]
* [[Arbitration ]]
*[[IAS 17]]
* [[International Centre for Settlement of Investment Disputes]]
*[[IFRS 16]]
* [[Litigation]]
*[[Lease]]
* [[Mediation]]
*[[Debt]]
* [[Reconciliation]]
*[[EBITDA]]
 
*[[Frozen GAAP]]
[[Category:Accounting,_tax_and_regulation]]
*[[Interest cover]]
*[[Net worth]]
*[[Off balance sheet]]

Revision as of 12:40, 1 October 2017

Lease accounting - International Financial Reporting Standard 16 (IFRS 16)

In the lease accounting context, ROU means Right of Use.


Operating lessees must report an ROU asset

"The major change for lessees [under IFRS 16] is that all operating leases must be reported on balance sheet through the creation of a right of use (ROU) asset and corresponding liability.
The ROU asset is calculated based on the present value of future rental cash flows discounted at the rate implicit in the lease or, if this is not available, the incremental borrowing rate, and depreciated over the remaining lease term."
The Treasurer magazine, September/October 2017, p40 - Paul Lippitt and Armaghan Haq.


See also

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