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WebJan 16, 2024 · The vendor typically charges $9,000 for software without any support or maintenance. The vendor typically charges $2,000 for a similar 3-year package of support and maintenance. In this example, the $10,000 charge should be allocated $8,182 ($10,000 x ($9,000 / $11,000)) to the software and $1,818 to the support and maintenance package. WebThe new leasing standard is applicable to all Indian companies complying with Indian Accounting Standards (Ind AS) for annual periods beginning on or after 1 April 2024. LeazeOn is an end-to-end lease administration and accounting software for IFRS 16 and Ind AS 116 compliance requirements. WebMar 13, 2024 · Effective interest method. Where the calculation of the interest expense in a finance lease is concerned, many practitioners have previously used either the level spread method of interest recognition or the sum-of-the-digits method and concerns have been raised as to how the effective interest method works under FRS 102 because for many … designer mule shoes for women