determining whether an arrangement contains a lease contains specific transitional p 611671

Determining whether an Arrangement contains a Lease – contains specific transitional provisions for existing IFRS-reporting entities that address the practical difficulties of going back potentially many years and making a meaningful assessment of whether the arrangement satisfied the criteria at that time. First-time adopters may apply the same transitional provisions, which allow them to apply IFRIC 4 to arrangements existing at their date of transition on the basis of facts and circumstances existing at that date. [IFRS 1 Appendix D9]. The example below based on the implementation guidance in IFRS 1 illustrates this exemption. [IFRS 1 IG Example 202].