Airtel 2015 Annual Report Download - page 277

Bharti Airtel Limited
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275
Consolidated Financial Statements (IFRS)
02-39 | Corporate Overview Financial Statements40-125 | Statutory Reports
126-355
3.12 Leases
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asset or assets and the arrangement conveys a right to
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in an arrangement.
a. Group as a Lessee
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asset and the lease term.
Operating lease payments are recognised as an
expense on a straight-line basis over the lease term.
Contingent rents are recognised as expense in the
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b. Group as a Lessor
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recognised as receivables at an amount equal
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lease. Initial direct costs incurred in negotiating an
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the leased asset and recognised over the lease term
on the same basis as rental income.
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as income on a straight-line basis over the lease
term.
Contingent rents are recognised as income in the
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c. Indefeasible Right to Use (‘IRU’)
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arrangement the assets are given on lease over the
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are recognised as operating lease.
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d. Sale and Leaseback Transactions
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amount shall not be immediately recognised as
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results in an operating lease, and transaction is
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recognised immediately.
3.13 Financial Instruments
A. Financial Instruments – Initial Recognition and
Measurement
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value plus directly attributable transaction costs
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costs are expensed in the income statement.
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date, i.e., the date that the Group commits to
purchase or sell the asset.
B. Financial Assets
1. Subsequent measurement
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loss
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