Company: TGE
Filing Date: 2025-02-19
Form Type: DRS
Source: 0001213900-25-015012
Chunk: 481

Company: Generation Essentials Group
Filing Date: 2025-02-19
Form: DRS
Chunk 481
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lease recognition exemption to leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option. Lease payments on short -termleases are recognized as expense on a straight -linebasis or another systematic basis over the lease term. Right-of -use assets The cost of right -of -useasset includes the amount of the initial measurement lease liability. Right -of -useassets are depreciated on a straight -linebasis over the shorter of its estimated useful life and the lease term. Lease liabilities At the commencement date of a lease, the Group recognizes and measures the lease liability at the present value of lease payments that are unpaid at that date. In calculating the present value of lease payments, the Group uses the incremental borrowing rate at the lease commencement date if the interest rate implicit in the lease is not readily determinable. The lease payments include fixed lease payments (including in -substancefixed payments), less any lease incentives. F-41 WORLD MEDIA AND ENTERTAINMENT UNIVERSAL INC.
NOTES TO THE COMBINED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2022 and 2023 and
six months ended June 30, 2023 AND 2024 2.APPLICATION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS (cont.) After the commencement date, lease liabilities are adjusted by interest accretion and lease payments. Foreign currencies These financial statements are presented in US$, which is the Company’s functional currency. Each entity in the Group determines its own functional currency and items included in the financial statements of each entity are measured using that functional currency. Foreign currency transactions recorded by the entities in the Group are initially recorded using their respective functional currency rates prevailing at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency rates of exchange ruling at the end of each reporting period. Differences arising on settlement or translation of monetary items are recognized in profit or loss. Non -monetaryitems that are measured in terms of historical cost in a foreign currency are translated using the exchange rates at the dates of the initial transactions. Non -monetaryitems measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was measured. The gain or loss arising on translation of a non -monetaryitem measured at fair value is treated in line with the recognition of the gain or loss on change in fair value of the item (i.e., translation difference on the item whose fair