For example, some assets may have multiple general uses. For example, some rail cars can be used for shipping products other than grain and can be used on different general shipping routes that can be guided by the customer. If the customer imposes the route he must take because he weighs the delivery time with the costs, the customer can control the asset and the operation can contain a rental agreement. Standard projects also stipulate that a contract includes a lease agreement when the customer controls the use of the asset. Control would be determined by assessing whether the client can direct the use of the asset and obtain the sales and profits it generates. On the other hand, where a supplier controls the use of the underlying asset, the contract relates to a service. One indicator that is not subject to detailed scrutiny is whether the agreement contains a fixed payment element structured to reimburse the supplier for the cost of the asset contained. Many service contracts entail significant start-up costs, whether they are the costs of acquiring assets for the provision of the service or of personnel and training service providers. Therefore, it is not uncommon for a contract to include a number of funding mechanisms to ensure the reimbursement of these costs, whether the mechanism is defined as a form of payment for the availability of assets or simply as a minimum duration of a service contract, in order to ensure that the supplier receives a certain amount of payments. In addition to the definition of leasing, the SAA and iasb also discussed how to separate the leasing and non-leasing elements in a contract and agreed to largely validate the proposals proposed in the 2013 projects. Determining the separation and consideration of elements of a contract is important for companies that use leases to lease multiple assets, for example.
B a production plant which could include a factory, the country on which the building is located and the equipment installed there. The AFSB`s Proposed Accounting Standards (ASU) No. 2013-270, Leases (Theme 842) and IASB Project (ED) No. 2013-6, Leases, defined a lease as “a contract that gives the right to use an asset for remuneration for a certain period of time.” The plates do not provide for a fundamental change in the definition. For legal reasons, most lawyers want the asset to be rented to be explicitly indicated so that the lessor can perfect as much as possible its security interest in the asset by filing the necessary pledge statements. These deposits serve to register the asset with the competent authorities as collateral, so that the user cannot inappropriately transfer it to another party in a transaction that can be complied with by the courts….