Ias 17 On Leases

Hey Buddy, I want to get the details regarding IAS 17 Leases so can you please provide me?

[Kiran Chandar]

IAS 17 was reissued in December 2003 and applies to annual periods beginning on or after 1 January 2005.

The objective of IAS 17 (1997) is to prescribe, for lessees and lessons, the appropriate accounting policies and disclosures to apply in relation to finance and operating leases.

IAS 17 Leases prescribes the accounting policies and disclosures applicable to leases, both for lessees and lessors.

History of IAS 17-

October 1980 Exposure Draft E19 Accounting for Leases
September 1982 IAS 17 Accounting for Leases
1 January 1984 Effective date of IAS 17 (1982)
1994 IAS 17 (1982) was reformatted
April 1997 Exposure Draft E56, Leases
December 1997 IAS 17 Leases
1 January 1999 Effective date of IAS 17 (1997) Leases
18 December 2003 Revised version of IAS 17 issued by the IASB
1 January 2005 Effective date of IAS 17 (Revised 2003)
16 April 2009 IAS 17 amended for Annual Improvements to IFRSs 2009 about classification of land leases
1 January 2010 Effective date of the April 2009 revisions to IAS 17, with early application permitted (with disclosure)