Peppercorn leases: the lowdown on AASB 16 and AASB 1058
Having considered stakeholder feedback, the AASB decides to grant a temporary exemption for peppercorn lease accounting while it considers its next steps. A temporary exemption provides timely relief to the not-for-profit (NFP) sector when dealing with peppercorn leases.
Here are the challenges involved, the best way forward and a look at how organisations in Hong Kong may be impacted.
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