What are the account codes for IFRS16- Leases- Statement of Profit or Loss?
Article ID
what-are-the-account-codes-for-ifrs16-leases-statement-of-profit-or-loss
Article Name
What are the account codes for IFRS16- Leases- Statement of Profit or Loss?
Created Date
6th February 2020
Product
Problem
What are the account codes for IFRS16- Leases- Statement of Profit or Loss?
Resolution
Regarding Operating lease, we have introduced new IFRS16 account codes.
Below is a list of each new account code introduced to its respective group:
Group 28 - 49
Group 113 - 156
Group 133 - 190
Group 163 - 225
Group 183 - 259
Group 203 - 315
Group 223 - 349
new sub accounts (Short-term, Low-value assets and Variable payments) will be introduced for each new main account code mentioned above.
sub account 1 will have a prefix description Short-term
sub account 21 will have a prefix description Low-value assets
sub account 41 will have a prefix description Variable payments
all other sub accounts will have a prefix description No description
all sub account descriptions can be changed.
There is no carried forward balances for the account codes
Non-statutory profit and loss
NB: Please note that all the P&L codes should appear on the non-statutory P&L as individual lined items
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