Survey

Question Title

* 1. Practical expedient (paragraphs 46A and 46B of the [Draft] amendment to IFRS/AASB 16)

Do you agree that this practical expedient would provide lessees with practical relief while enabling them to continue providing useful information about their leases to users of financial statements?

Yes

Please elaborate on your answer below. If you disagree with the proposal, please explain what you propose and why.

Question Title

* 2. Effective date and transition (paragraphs C1A and C20A of the [Draft] amendment to IFRS/AASB 16)

Do you agree with this proposal for effective date and transition?

Yes

Please elaborate on your answer below. If you disagree with the proposal, please explain why and what you propose.

Question Title

* 3. The AASB understands the National Cabinet Mandatory Code of Conduct – SME Commercial Leasing Principles During Covid-19, principle 12 allows for leases to be extended for an equivalent period of any rent waiver and/or deferral period. If such an extension is substantive, lessees may not be able to apply the exemption proposed in the IASB ED. In your experience, how common is extension of the lease term?

Not common

Occasionally common

Very common

Clear

i We adjusted the number you entered based on the slider’s scale.

Question Title

* 4. In relation to Q3, do you agree with the IASB’s proposal that other substantive changes are not included in the relief?

Yes

Please elaborate on your answer. If you disagree with the IASB's proposal, please explain what you propose and why.

Question Title

* 5. Rent concessions are only within the scope of the proposals if the lease payments were due in 2020.

In your experience, how common is it in Australia for lease payments due in 2021 or later to be reduced due to COVID-19?

Not common

Occasionally common

Very common

Clear

i We adjusted the number you entered based on the slider’s scale.

Question Title

* 6. Do you agree with the IASB’s proposal to only provide relief for lease payments were due in 2020?

Yes

Please elaborate on your answer. If you disagree with the IASB’s proposal, please explain what you propose and why.

Question Title

* 7. The IASB proposal requires lessees that apply the exemption to disclose that fact.

Do you agree that disclosure of the fact that entities elect to apply the exemption provides sufficient information about their leases to users of a lessee’ financial statement?

Yes

Please elaborate on your answer. If you disagree with the IASB's proposal, please explain what you propose and why.

Question Title

* 8. The IASB proposed amendments focuses on lessees and propose no change for lessors based on the assumption that lessors are not expected to face the same practical challenges as lessees in accounting for Covid-19-related rent concessions. Do you agree with the IASB proposal and assumptions?

Yes

Please elaborate on your answer. If you disagree with the IASB's proposal, please explain what you propose and why.

Question Title

* 9. Are you aware of any other Australian-specific issues related to rent concessions that would affect the applicability of the proposals?

Yes

Please elaborate.

Question Title

* 10. What is your role in respect of financial reporting?

Preparer

Auditor

Technical Adviser

Director

Regulator

Other (Please specify)

Other (please specify)

Question Title

* 11. Name and Contact information

Name

Email Address

Phone Number

Question Title

* 12. Do you consent to the AASB contacting you with follow-up questions?

Yes

Survey

Question Title

* 1. Practical expedient (paragraphs 46A and 46B of the [Draft] amendment to IFRS/AASB 16) Do you agree that this practical expedient would provide lessees with practical relief while enabling them to continue providing useful information about their leases to users of financial statements?

Question Title

* 2. Effective date and transition (paragraphs C1A and C20A of the [Draft] amendment to IFRS/AASB 16) Do you agree with this proposal for effective date and transition?

Question Title

Question Title

* 4. In relation to Q3, do you agree with the IASB’s proposal that other substantive changes are not included in the relief?

Question Title

* 5. Rent concessions are only within the scope of the proposals if the lease payments were due in 2020.In your experience, how common is it in Australia for lease payments due in 2021 or later to be reduced due to COVID-19?

Question Title

* 6. Do you agree with the IASB’s proposal to only provide relief for lease payments were due in 2020?

Question Title

* 7. The IASB proposal requires lessees that apply the exemption to disclose that fact. Do you agree that disclosure of the fact that entities elect to apply the exemption provides sufficient information about their leases to users of a lessee’ financial statement?

Question Title

* 8. The IASB proposed amendments focuses on lessees and propose no change for lessors based on the assumption that lessors are not expected to face the same practical challenges as lessees in accounting for Covid-19-related rent concessions. Do you agree with the IASB proposal and assumptions?

Question Title

* 9. Are you aware of any other Australian-specific issues related to rent concessions that would affect the applicability of the proposals?

Question Title

* 10. What is your role in respect of financial reporting?

Question Title

* 11. Name and Contact information

Question Title

* 12. Do you consent to the AASB contacting you with follow-up questions?

* 1. Practical expedient (paragraphs 46A and 46B of the [Draft] amendment to IFRS/AASB 16)

Do you agree that this practical expedient would provide lessees with practical relief while enabling them to continue providing useful information about their leases to users of financial statements?

* 2. Effective date and transition (paragraphs C1A and C20A of the [Draft] amendment to IFRS/AASB 16)

Do you agree with this proposal for effective date and transition?

* 5. Rent concessions are only within the scope of the proposals if the lease payments were due in 2020.

In your experience, how common is it in Australia for lease payments due in 2021 or later to be reduced due to COVID-19?

* 7. The IASB proposal requires lessees that apply the exemption to disclose that fact.

Do you agree that disclosure of the fact that entities elect to apply the exemption provides sufficient information about their leases to users of a lessee’ financial statement?