Since IFRS makes an exception for leased assets that have low values, reporters may account for leased assets with values of less than $5,000 as a rental agreement rather than recognizing a right-of-use asset and a lease liability. For example, suppose a company leases a $4,800 computer for 2.5 years. How does IFRS differ from how U.S. GAAP would record this?

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The Answer of Since IFRS makes an exception for leased assets that have low values, reporters may account for leased assets with values of less than $5,000 as a rental agreement rather than recognizing a right-of-use asset and a lease liability. For example, suppose a company leases a $4,800 computer for 2.5 years. How does IFRS differ from how U.S. GAAP would record this?

Since IFRS Makes an Exception for Leased Assets That Have