This refers to the expenses incurred by lessees related to their lease arrangements. Under both IFRS 16 and ASC 842, lease expenses include depreciation of the ROU asset, interest on the lease liability, and any other lease-related expenses, such as variable lease payments or contingent rentals.

This refers to the revenue earned by lessors from leasing out assets to lessees. Under both IFRS 16 and ASC 842, lessors are required to recognize lease revenue over the lease term, either on a straight-line basis or based on the pattern of the lessee's use of the leased asset.

This refers to the interest expense incurred by the lessee on the lease liability. Under both IFRS 16 and ASC 842, lessees are required to recognize interest expense on the lease liability separately from the depreciation of the ROU asset.

This refers to the assessment of whether the leased asset or the ROU asset has become impaired, which means that its value has decreased significantly. Under both IFRS 16 and ASC 842, lessees are required to test for impairment of the ROU asset and the underlying asset, if applicable, when there is an indication of impairment.

This section of the ASC 842 standard provides guidance on the accounting treatment of leases with bargain purchase options, which allow the lessee to purchase the leased asset at a price significantly below its fair value.

This section of the ASC 842 standard provides guidance on the lessor accounting for different types of leases, including sales-type leases, direct financing leases, and operating leases.

This section of the ASC 842 standard provides guidance on the transition to the new lease accounting standard and the effective date of the standard.

This refers to a transaction in which an entity sells an asset to a third party and then leases it back from the buyer. Under ASC 842, sale and leaseback transactions are subject to specific accounting rules.

These are lease payments that are dependent on future events, such as sales or usage levels. Under both IFRS 16 and ASC 842, lessees are required to estimate and include the expected amount of contingent rentals in the calculation of the lease liability.

These are the costs incurred by a lessee to obtain a lease, such as legal fees or broker fees. Under both IFRS 16 and ASC 842, initial direct costs are capitalized and amortized over the lease term.

These are assets with a low cost, such as office equipment or small tools, that are exempt from the recognition requirements of the new lease accounting standards. Under IFRS 16, low-value assets are defined as those with a cost of up to $5,000, while under ASC 842, they are defined as those with a cost of up to $5,000 or less.

This refers to the adjustment of the lease liability and ROU asset when there is a change in the lease term, lease payments, or discount rate. Under both IFRS 16 and ASC 842, lessees are required to remeasure their lease liabilities and ROU assets when there is a significant change in the lease terms.

There are two main types of Commercial Leases: (1) operating leases and (2) Finance leases. Under IFRS 16 and ASC 842, operating leases are treated the same as finance leases, and lessees are required to recognize ROU assets and lease liabilities on their balance sheets for both types of leases.

This refers to the periodic allocation of the cost of the right-of-use (ROU) asset over its useful life. Under both IFRS 16 and ASC 842, lessees are required to recognize ROU assets and lease liabilities for most leases. Depreciation of ROU assets is one of the key expenses that lessees need to account for under the new lease accounting standards.

Lease payments that are not fixed, such as payments that vary based on changes in an index or rate, or payments that are based on the lessee's sales or usage of the underlying asset.

The percentage of available space in a market that is not leased or occupied.

The area of a space that is available for the exclusive use of the tenant, including offices, conference rooms, and restrooms.

A lease in which the tenant pays for all operating expenses, including utilities, maintenance, property taxes, and insurance, in addition to rent.

A monetary allowance provided by the landlord to the tenant to cover the cost of building out or customizing a space to meet their specific needs.

The lessor's ability to substitute the underlying asset during the lease term and the conditions that must be met for the substitution rights to be considered substantive.

A lease in which the lessee transfers some or all of its rights and obligations to use the leased asset to a third party.

Recognition Exemption: An exemption that allows lessees to recognize short-term lease payments as an expense on a straight-line basis over the lease term without recognizing a right-of-use asset or lease liability.

Leases with a lease term of 12 months or less.

An asset that represents a lessee's right to use an identified asset for the lease term.

The lessee's right to obtain substantially all of the economic benefits from the use of the identified asset throughout the lease term.

The lessor's ability to direct the use of the identified asset throughout the lease term.

The lessee's ability to direct the use of the identified asset throughout the lease term.

A guarantee by the lessee or a third party that the underlying asset will have a certain value at the end of the lease term.

An event or condition that has a low probability of occurring

The reassessment of the lease term and purchase options when there is a significant change in circumstances or events that affect the lease arrangement.

A level of confidence or probability that an event will occur or a condition exists, which is greater than 50%.

The implicit interest rate used in lease accounting to determine the present value of lease payments.

An option granted to a lessee to purchase the underlying asset at the end of the lease term.

A practical expedient that allows lessees to elect to combine certain lease arrangements into a single lease for accounting purposes.

A component of a lease arrangement that is not an identified asset and does not give rise to a lease liability.

A period of time during which a lessee has the right to terminate a lease arrangement without penalty.

An element of a lease arrangement that is not an identified asset or group of assets.

A lease in which the tenant pays for some or all operating expenses, such as utilities, maintenance, and property taxes, in addition to rent.

Buyers and sellers in a market for the same or similar assets or liabilities.

A lease arrangement in which the lessor borrows funds to finance the acquisition of the leased asset.

A reassessment by a lessor of the lease term of a lease arrangement, which may result in a remeasurement of the lease liability.

The party that grants the right to use an identified asset to a lessee under a lease arrangement.

The party that obtains the right to use an identified asset under a lease arrangement.

A business entity that is recognized as a separate legal entity under applicable laws and regulations.

The early termination of a lease arrangement by either the lessor or lessee.

The period of time for which a lessee has the right to use an identified asset under a lease arrangement.

The amount that a lessor is entitled to receive from a lessee under a lease arrangement.

The consideration that a lessee is required to pay to a lessor under a lease arrangement, including fixed payments, variable payments, and lease incentives.

A change in the terms or conditions of a lease arrangement that was not part of the original agreement.

The present value of lease payments that a lessee is obligated to make under a lease arrangement.

Payments or other benefits provided by a lessor to a lessee as an inducement to enter into or extend a lease arrangement.

Factors that indicate that the carrying value of a lease asset or liability may not be recoverable, such as a significant change in circumstances or the occurrence of a significant event.

An identified asset or group of assets in a lease arrangement that is accounted for separately from other components of the lease.

The date on which a lessee begins to use an identified asset under a lease arrangement.

A practical expedient that allows lessees to elect not to apply the lease accounting requirements to certain land easements that are not physically distinct or have insignificant value.

A legal agreement between a landlord and tenant that governs the terms and conditions

The owner of a property who leases the property to a tenant.

A document indicating that a tenant has obtained insurance coverage as required by a lease or other agreement.

To protect or compensate a party for any loss or damage incurred as a result of a particular action or event.

The total square footage of a building or space, including common areas and other non-rentable space.

A lease in which the tenant pays a fixed amount of rent that includes all operating expenses, such as taxes and maintenance.

A lease in which the landlord is responsible for all operating expenses of a property, including taxes, insurance, and maintenance.

Moveable property such as office furniture, kitchen appliances, and other items that are not part of the building structure.

A document signed by a tenant certifying the terms and conditions of a lease.

A provision in a lease or other agreement that allows for an increase in rent or other charges based on certain factors, such as inflation or operating expenses.

The right to use or access a portion of a property owned by another party, such as a right-of-way for utilities.

The process of investigating a property or other investment before entering into a transaction.

A lease in which the tenant is responsible for paying rent and property taxes.

Money paid by a tenant as security for performance of obligations under a lease or other agreement.

Failure to fulfil a legal obligation, such as paying rent or performing under a contract.

A condition or event that must occur before a contract or agreement becomes binding.

The parts of a commercial property that are shared by multiple tenants, such as lobbies, hallways, and parking lots.

Real estate used for business purposes, such as office buildings, shopping centers, and industrial facilities.

The percentage of common areas, such as lobbies, hallways, and restrooms, that are deducted from a tenant's usable square footage to calculate their rentable square footage.

Two or more spaces that are adjacent and can be combined into one larger space.

Property used for business purposes, such as offices, retail stores, and industrial buildings.

A classification system used to rank buildings based on their age, location, amenities, and quality of construction. Class A buildings are typically the newest and highest quality, while Class C buildings are older and less desirable.

A document issued by a government agency indicating that a building or space is suitable for occupancy.

The rate of return used to determine the value of income-producing property. It is calculated by dividing the property's net operating income by its value or purchase price.

The portion of operating expenses for a commercial property that is paid by tenants, typically for maintenance and repair of common areas.

A payment made by a tenant to terminate a lease or to take control of a space before the end of the lease term.

The construction or renovation of interior space to meet the specific needs of a tenant.

A classification system for commercial buildings based on factors such as age, location, and amenities.

The minimum rent payable by a tenant before any additional rent, such as taxes, operating expenses, or percentage rent.

The transfer of a lease or other agreement from one party to another.

The total amount of rent payable by a tenant over a year.

The largest and usually the most prominent tenant in a shopping center, office building, or other commercial property.

A document that modifies or changes a legal agreement

A security that represents ownership in a non-U.S. company and trades on a U.S. exchange.

The rate at which rentable space is leased or occupied within a market.

As per requirements of section 17 of the Registration Act, 1908, a lease agreement for a term not exceeding one year is not compulsorily registrable. This means that rent agreements for less than 12 months duration can be made without registration.

The purpose of lease accounting is to provide a transparent and accurate representation of a company's lease obligations and assets in its financial statements, which can help investors and other stakeholders make better-informed decisions about the company.

An operating lease is a type of lease in which the lessee (the user) rents an asset, typically equipment or a vehicle, for a specified period of time. The lessor (the owner) retains ownership of the asset and is responsible for maintenance and repairs.

A capital lease (finance lease) is a type of lease in which the lessee (the party leasing the asset) effectively purchases the asset and has the right to use it over a specified period of time, while the lessor (the party owning the asset) retains legal ownership.

The International Accounting Standards Board (IASB) is an independent, private-sector body that develops and issues International Financial Reporting Standards (IFRSs).

The Financial Accounting Standards Board (FASB) is an independent, private-sector organization based in the United States that sets accounting standards for public and private companies and nonprofit organizations.

A rent-free period, also known as a "rent holiday," is a period of time during the lease term during which the tenant is not required to pay rent.

Here’s what you can do: (1) Document the issue (2) Communicate with the landlord (3) Consider withholding rent (4) Seek legal advice

Here’s what you can do: (1)Review the lease agreement (2)Send a demand letter asking to return the deposit (3)File a complaint (4)Seek legal advice

Here are a few steps you can take: (1) Document the issue (2) Contact your landlord (3) Send a formal complaint (4) Consider withholding rent (5) Consult a lawyer on the issue