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A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership of the underlying asset, irrespective of whether legal title is transferred. The criteria for classifying a lease as finance include: 1. Ownership of the asset is transferred to the lessee by the end of the lease term. 2. The lessee has an option to purchase the asset at a price that is low enough that, at the inception of the lease, it is reasonably certain that the option will be exercised. 3. The lease term is for the major part of the economic life of the asset (75% or more), which encompasses the non-cancellable period, periods covered by extension options if the lessee is reasonably certain to exercise them, and periods covered by termination options if the lessee is reasonably certain not to exercise them. 4. At the inception of the lease, the present value of lease payments amounts to at least fair value of the leased asset (90% or more). 5. The leased asset is of such a specialized nature that only the lessee can use it without major modifications. Additional indicators for a finance lease include situations where the lessee can cancel the lease and the lessor incurs losses, gains or losses from fluctuations in the residual value of the leased asset accrue to the lessee, and the lessee has the option to continue the lease for a secondary period at a rent significantly lower than market rent. If none of these criteria are met, the lease is classified as an operating lease. This comprehensive guide is crucial for accurate financial reporting under IFRS 16.",{"@graph":69,"@context":99},[70,84],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/ifrs-16-lessor-accounting-classification-of-lease/24415",{"url":83,"name":65,"@type":85,"author":86,"headline":65,"publisher":89,"fileFormat":92,"description":67,"dateModified":93,"datePublished":93,"encodingFormat":92,"isAccessibleForFree":94,"interactionStatistic":95},"DigitalDocument",{"name":87,"@type":88},"Himbo","Person",{"url":74,"name":90,"@type":91},"DocShare","Organization","application/pdf","2026-05-07",true,{"@type":96,"interactionType":97,"userInteractionCount":4},"InteractionCounter",{"@type":98},"ViewAction","https://schema.org",{"og:url":83,"og:type":101,"og:title":65,"og:site_name":90,"og:description":67},"article",{"robots":103,"canonical":83},"index,follow",{"doc_id":105,"site_id":62},24415,1778188778,{"code":4,"msg":5,"data":108},{"doc_id":105,"user_id":109,"nickname":87,"user_avatar":110,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":66,"file_id":111,"file_url":112,"file_type":113,"file_size":114,"view_count":4,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":81,"language":115,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":66,"faqs":66,"seo_title":116,"seo_description":67,"update_tm":106,"read_time":39},687197100911,"https://ap-avatar.wpscdn.com/avatar/a000239b6f1da00475?x-image-process=image/resize,m_fixed,w_180,h_180&k=1785132997149421697","cbCailOuU3cFZCl0","https://ap.wps.com/l/cbCailOuU3cFZCl0","pdf",549512,"English","IFRS 16 - Lessor Accounting Classification of Lease | PDF"]