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scope of IFRS 16 service concession arrangements

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 nayana madwani asked 11 months ago

What is scope of IFRS 16 service concession arrangements ?

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 PRACHEETI answered 11 months ago

The IASB decided to exclude from the scope of IFRS 16 service concession arrangements within the scope of IFRIC 12. Consistently with the conclusions in IFRIC 12, any arrangement within its scope does not meet the definition of a lease. This is because the operator in a service concession arrangement does not have the right to control the use of the underlying asset. For this reason, the IASB considered whether it was necessary to explicitly exclude from the scope of IFRS 16 service concession arrangements within the scope of IFRIC 12. 

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