CERTYNEX IFRS ACADEMY

The lessor Altiva designs and leases to the Ferrandis group a test bench configured for its production line only. No other user could use it without major modifications. Altiva keeps legal ownership of the bench. What conclusion should be drawn from this feature?

It is a situation that would normally lead to a finance lease, to be included in the overall analysis.

The lease is an operating lease, since the lessor remains the legal owner of the test bench.

The specialised nature of the asset is irrelevant; only the term and the discounted amounts matter.

The lease becomes a finance lease only if its term reaches at least 90% of the economic life.