Criterion

Contact us for more information or services

 
WTS Porezi i Finansije d.o.o.
Belgrade - Autokomanda
Vojvode Stepe 32
11000 Belgrade, Serbia
 
Bojan Radojicic
T: +381 (0) 60 70 330 40
E: office@wtsserbia.com
WEB: www.wtsserbia.com
 
Criterion

Asset is determinated?
User of leasing gets all economical benefits for property use?
Does leasee have rights to deterimne how the assets will be used
Agreement contain leasing elements

Is this low value lease?

Supplier is able to replace the an asset and to enjoy economical benefits of replaced asset?
Is it possible to estimate a reliable period of lease
Internal interest comparable rate can be applied?
Incremental rate is to be applied?

Contact us for more information or services

 
WTS Porezi i Finansije d.o.o.
Belgrade - Autokomanda
Vojvode Stepe 32
11000 Belgrade, Serbia
 
Bojan Radojicic
T: +381 (0) 60 70 330 40
E: office@wtsserbia.com
WEB: www.wtsserbia.com
 
 Lease 1 Lease 2 Lease 3

Yes Yes Yes

Yes Yes Yes
Yes Yes Yes
Yes Yes Yes
No, 12500e per month, main
Yes, 120e per month Yes, 120e per month
building
No n-a n-a
Yes n-a n-a
Yes n-a n-a
No n-a n-a
Liabilities valuation before discounting

Monthly lease Annual lease

Liabilitis
amount amount

Lease 1 12,500 150,000

Lease 2 0 0
Lease 3 0 0

Rights of use valuation before discounting

Monthly lease Annual lease

Asset
amount amount

Lease 1 12,500 150,000

Lease 2 0 0
Lease 3 0 0
 Fixed Varialbe perod
Total period in Expected fixed
unchangable (prolongation Terminatio option
years payment
lease period option)

3 3 0 6 900,000
3 3 0 6 0
3 3 0 6 0

900,000

Fixed Varialbe perod

Termination Total period in Total lease
unchangable (prolongation
option years payment
lease period option)
3 3 0 6 900,000
3 3 0 6 0
3 3 0 6 0

900,000
 Expected
Exercise price of
variable value Penalty for
Variable payment purchase option Total
guarnatee termination

0 0 0 0 900,000
0 0 0 0 0
0 0 0 0 0

(minus) Estimated cost

Advanced payments incentives or for dismantling Initial direct costs Total
discounts
0 0 0 0 900,000
0 0 0 0 0
0 0 0 0 0
 Recognition Lease 1

Interest rate 4.10%

Useful lifetime in years 6
Depreciation rate 16.67%
Period Year 1 Year 2 Year 2 Year 4

Nominal amount 150,000 150,000 150,000 150,000

Discounted amount 144,092 138,417 132,966 127,729

Differenece

Depreciation 130,628 130,628 130,628 130,628

Interest 32,134 27,302 22,271 17,034

Liabilities 783,767 665,902 543,204 415,475

Rights of use 783,767 653,139 522,511 391,884

Check 0 0 0 0

Short term liabilities 117,866 122,698 127,729 132,966

Lease 1 Lease 2

4.10%
6
16.67%
Year 5 Year 6 Year 1 Year 2 Year 2 Year 4 Year 5

150,000 150,000 900,000 0 0 0 0 0

122,698 117,866 783,767 0 0 0 0 0

116,233

130,628 130,628 783,767 0 0 0 0 0

11,583 5,908 116,233 0 0 0 0 0

282,509 144,092 Check 0 0 0 0 0 0

261,256 130,628 0 0 0 0 0

0 0 0 0 0 0 0
0

138,417 144,092
se 2 Lease 3

4.10%
6
16.67%
Year 6 Year 1 Year 2 Year 2 Year 4 Year 5 Year 6

0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0

0 Check 0 0 0 0 0 0 0

0 0 0 0 0 0 0

0 0 0 0 0 0 0
0 0
 0 900,000
0

0 783,767
0 116,233

Check 0
Income statement
Year 1
After IFRS16 Before

Result before IFRS16 application and lease cost 880,000 880,000

Lease cost 150,000
EBITDA 880,000 730,000
Depreciation 130,628
Interest expenses 32,134
Result before taxation 717,238 730,000
Tax (15%) 107,586 109,500
Result after taxation 609,652 620,500

Balance sheet
Year 1
IFRS applied Before IFRS

Assets 4,358,000 4,358,000

Right of use (IFRS16) 783,767 -
Total Assets 5,141,767 4,358,000

Equity 2,205,000 2,205,000

Liabilities 2,153,000 2,153,000
Liabilities - IFRS16 783,767
Total liabilities 2,936,767 2,153,000

Total Equity and Liabilities 5,141,767 4,358,000

Check - -

Equity share in total assets 43% 51%

 Year 2 Year 3 Year 4
After IFRS16 Before After IFRS16 Before After IFRS16 Before

880,000 880,000 880,000 880,000 880,000 880,000

150,000 150,000 150,000
21% 880,000 730,000 880,000 730,000 880,000 730,000
130,628 130,628 130,628
27,302 22,271 17,034
-2% 722,070 730,000 727,101 730,000 732,338 730,000
-2% 108,311 109,500 109,065 109,500 109,851 109,500
-2% 613,760 620,500 618,036 620,500 622,487 620,500

18%

36%
 Year 5 Year 6
After IFRS16 Before After IFRS16 Before

880,000 880,000 880,000 880,000

150,000 150,000
880,000 730,000 880,000 730,000
130,628 130,628
11,583 5,908
737,789 730,000 743,464 730,000
110,668 109,500 111,520 109,500
627,121 620,500 631,945 620,500
 Total
After IFRS16 Before

5,280,000 5,280,000
- 900,000
5,280,000 4,380,000 21%
783,767 -
116,233 -
4,380,000 4,380,000 0%
657,000 657,000 0%
3,723,000 3,723,000 0%