English to Spanish Bus/Financial Accounting Australian accounting standards

Me he encontrado este término en unos estados financieros de una entidad australiana.

La traducción es para España.

"Company as a lessee
Under AASB 117, the Company assessed whether leases were operating or finance leases based on its assessment of whether the significant risks and rewards of ownership had been transferred to the Company or remained with the lessor.

Under AASB 16, there is no differentiation between finance and operating leases for the lessee and therefore all leases which meet the definition of a lease are recognised on the statement of financial position (except for short­ term leases and leases of low value assets).

The Company has elected to use the exception to lease accounting for short-term leases and leases of low value assets, and the lease expense relating to these leases are recognised in the statement of profit or loss on a straight line basis.

Practical expedients used on transition
AASB 16 Includes a number of **practical expedients*** which can be used on transition, the Company has used the following expedients:

- contracts which had previously been assessed as not containing leases under MSB 117 were not re-assessed on transition to MSB 16;
- lease liabilities have been discounted using the Company's incremental borrowing rate at 1 January 2019;
- right-of-use assets at 1 January 2019 have been measured at an amount equal to the lease liability adjusted by the amount of any prepaid or accrued lease payments;
- a single discount rate was applied to all leases with similar characteristics;
- used hindsight when determining the lease term if the contract contains options to extend or terminate the lease;"