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ASC 842-10-55-11 requires the acquirer to retain the acquiree’s previous lease classification (unless the lease is modified), regardless of whether the acquiree is the lessee or lessor in the lease arrangement.
| The classification of the contract in which the acquiree is a lessor as a finance or an operating lease under IFRS 16 does not change in a business combination. That is, the acquirer is required to retain the lease classification of the acquiree if the acquiree is the lessor. However, there is no explicit guidance to retain the lease classification when the acquiree is the lessee.
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