WHO AND WHEN SHOULD APPLY THE FSBU 25/2018

 WHO AND WHEN SHOULD APPLY THE FSBU 25/2018

Starting from the reporting for 2022, FSBU 25/2018 should be applied by the parties specified in the lease or sublease agreement, as well as other agreements that, by themselves or in interconnection, establish the obligation of the lessor, lessor, rightsholder, or another person to give the property into temporary possession for paid basis.

The standard applies to both “standard” property leases and finance (leasing). It does not matter that, in fact, the object transferred for temporary use for a fee or a separate part of it is on the balance sheet of one of the parties (lessor or lessee).

The new rules may not be applied to contracts with a due date before the end of the year in which FSBU 25/2018 applies. This means that if from 2020 the company changes its accounting policy in accordance with the new standard, then the old procedure applies to contracts up to December 31, 2019, inclusive. FSBU 25/2018 does not apply to them.

If a legal entity maintains Walsall in Accountants, then the FSBU 25/2018 rules apply only to obligations that begin to be fulfilled from January 1, 2022.

WHO AND IN WHAT CASES MAY NOT APPLY THE FSBU 25/2018

The new lease accounting standard is optional for public sector entities. This is how clause 4 FSBU 25/2018 was established

Those who share with users can also forget about the new order:

• the results of intellectual activity or means of individualization, as well as the material carriers on which they are recorded;
• objects of the concession agreement;
• subsoil plots for geological research, exploration, and/or mining.