following are the difference between IND AS 17 and AS 19
IND AS 17
1. it has specific provisions dealing with leases of land and biulding
2. it is not applicable as the basis of measurement of property held by lesses or provided by the lessors under operating leases but treated as investment property and biological asset held by lessor.
3. the definition of residual value appearing in the existing standard
4.The lessee shall recognise finance leases as assets and liabilities in balance sheet at the commencement of the lease term
- the existing standard excludes leases of land from its scope
- this standard does not contain provisions of treated as investment property biological asset held by lesses
- no distinction between inception of lease and commencement of lease
- As per the existing standard such recognition is at the inception of the lease.