Witryna22 lis 2024 · is implicitly specified by being identified at the time that the asset is made available for use by the customer. Even if an asset is explicitly specified, a customer … Witryna15 sty 2004 · The asset need not be explicitly identified by the contractual provisions of the arrangement. Rather it may be implicitly specified because it is not economically feasible or practical for the supplier to fulfil the arrangement by providing use of alternative assets. The arrangement conveys a right to control the use of the …
Definition of a Lease: Substitution Rights (IFRS 16)
WitrynaSpecified Asset means an asset of the Issuer or any Subsidiary over which security is given in connection with any limited recourse securitisation or other asset -backed … Witrynathe use of the specified asset. An asset is implicitly specified if, for example, the supplier owns or leases only one asset 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; and (b) the arrangement conveys a right to use the ... inclusive bahama vacations
Specified Initial Assets Definition Law Insider
WitrynaA Lease involves the use of an identified asset: • Explicitly or implicitly specified (can also be a physically defined smaller part of bigger asset) • No identified asset exists if … WitrynaHowever, an asset can also be identified by being implicitly specified at the time that the asset is made available for use by the customer’. But ‘even if an asset is specified, a customer does not have the right to use an identified asset if the supplier has the substantive right to substitute the asset throughout the period of use ... Witryna19 paź 2024 · This election is made based on the class of the underlying asset. Application: The practical expedient is available to lessees regardless of the extent or ... it is implicitly specified because TK has only one railcar that can be used to fulfill the contract. References: ASC 842-10-15-9 through 15-16, ASC 842-10-15-16, ASU … inclusive bahama wedding packages