⭐ Important points (exam-critical)
- ⭐IBR (Incremental Borrowing Rate) used when implicit rate not determinable.
- ⭐Sale and leaseback: assess if sale qualifies under Ind AS 115; if not — financing transaction.
- ⭐Lease modifications: separate lease vs remeasurement (decrease in scope → derecognise; others → adjust ROU).
- ⭐Lessor: finance lease creates receivable; operating lease — straight-line income.
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