The transition to IFRS valuations and the use of estimates which, by their very nature, are subjective, about: — the assessment of whether a contract is, or contains, a lease; — the determination of the lease term, considering the non-cancellable period and any options to extend or terminate the lease; — the initial measurement of the lease liability at the present value of lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or the incremental borrowing rate; — the determination of the useful life of the right-of-use assets for depreciation purposes and their impairment testing; — the recognition of any lease modifications that occurred during the year; — the remeasurement of the lease liability in the cases required by the standard other than lease modifications.