What disclosures must a lessee include on its financial statements for all leases to which it has entered?

What will be an ideal response?

Answer: The lessee’s disclosures include the following information:
1. The requited lease payments on both capital and operating leases for each of the next five years and the remaining payments in aggregate.
2. The balance of the lease debt on the balance sheet.
3. The current portion of lease debt.
4. The leased assets included in property, plant, and equipment.
5. Rent expense for the three year period covered by the income statement.

Additionally, IFRS requires that lessee companies disclose future lease payments for the first year, the total of years two through five, and the rem,remaining aggregate payments.