LESSEE ACCOUNTING - LEASE PAYMENTS MADE IN ADVANCE (IFRS 16)

In this tutorial video, I demonstrate how leases are accounted for in the financial statements of the lessee, where lease payments are made in advance (i.e. at the beginning of the year). I also illustrate how the concept of annuity applies to the determination of the initial lease liability at the commencement date.

[dunkotox]

best explantation in the Internet, so far!!! Thank you !!!

[omaryothman]

Thank you Sir George, excellent lecture

[EKWUTOSIAJIBO-rubg]

Thank you very much sir
Well understood

[mulugetaassefa]

Well done !! good and clear approach keep it up!!

[miguelnsaka]

THIS IS GREAT SIR, SHOULD BE NAMING YOUR VIDEOS IN PARTS E.G PART 1, PART 2

[annielehong]

Wow! Wow! and more wow's!!!
I can't remember how many videos I watched, in search of "Right-of-use asset" calculation but none of them helped.

May God expand your territory sir.👏👏👏 Keep it up!! As I subscribe!!!

[godfreyedwinmwale]

thank you sir for this, its really clear teaching

[PraiseHYMN]

That was a perfect presentation. I going to look for the next

[kofiohenesasu]

Good morning
Your is good, and kindly do more on the various standards.

[mreben]

Thank you so much sir this was very very helpful, highly appreciated 🙏💯

[nhansieu]

fantastic explanation and really good hand writing

[solomonowomunigbon]

Thank u, quite simplified. Just an observation - under YE 2019 - the outstanding bal. is 13, 337, 500 {15, 837, 500 - 2, 500, 000}.

[dorcasochil]

An exquisite presentation!
Very good one Sir

[putikeswarasudarsono]

Sir, thank you for the video, this is the only thing that answer my question so far. I would like to know, if in the first year you pay for, let's say two months rent, while maintaining the amount monthly annuity will it be recognised as and advance payment or a reduction in the lease liability principal? Thank you have a nice day.

[supernatural_fanz]

I appreciate your efforts sir, ride on💪...but the amortization schedule for advance is different from that of arrears, pls corrext me if am wrong coz am actually confused😢

[cemsitmaz]

Thank you Mr. Savio great explanation !

[shiomwenyonamusha]

Thank you very much.
This really helped

[ifeychrisonyejeme]

Thanks for the video. How do one account for the lease liability of a 5years contract with 2years prepaid at commencement date? How do you unwind the lease liabilities for the 5years ?.

[mishawnroberts]

Presentation is excellent however what do we do if the lease is paid monthly in advance?

[AckimNyirenda-ld]

I am failing to understand how you have calculated the annuity factor of 5.759.May you demonstrate on the calculator please