Accounting for low value assets

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The accounting for low value assets is getting an extra dimension with IFRS 16 Leases arriving.

A generic exemption is applicable for ‘small assets’.

Consider all kind of office furniture like desks, chairs, laptops or even complete workstations.

The article ‘Accounting for low value assets’ shows the benefits of using this generic exemption:

  • spreading costs over years, in combination with the
  • benefit of not being bothered with detailed administrative actions.

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