Jagran date sheet
A revaluation decrement of $611,244 for leasehold improvements (2017: $364,976 decrement) was debited to the asset revaluation surplus by asset class and included in the equity section of the statement of financial position. A revaluation decrement for provision for restoration of $58,489 (2017: $249,331)... The classification of leases as either finance leases or operating leases is eliminated for lessees. Leases will be recognised in the Balance Sheet by capitalising the present value of the minimum lease payments and showing a ‘right-of-use’ asset, while future lease payments will be recognised as a financial liability.