This Standard shall be applied in accounting for all leases other than:
(1) Leases to explore for or use minerals, oil, natural gas and similar non-regenerative resources; and
(2) Licensing agreements for such items as motion picture films, video recordings, plays, manuscripts, patents and copyrights.
However, IAS 17 shall not be applied as the basis of measurement for:
(1) Property held by lessees that is accounted for as investment property (see IAS 40 Investment Property);
(2) Investment property provided by lessor under operating leases (see IAS 40);
(3) Biological assets held by lessees under finance leases (see IAS 41 Agriculture);…. continue reading