Explain the following questions.

1) identify the classification of lease with reason for the lease entered by GHL in accordance with HKFRS 16?

2) under what conditions would deferred taxes need to be reported in the financial statements. Explain why an applicable tax rate and average effective tax rate numerical reconciliation and the major elements of tax expense or income are required to be included in the disclosure in accordance with HKAS 12 'Income Taxes'.

3) why split accounting should be used for the recognition of the debts with conversion characteristic in accordance with HKAS 32 'Financial Instruments: Presentation'?

(4) what is the requirement of a sale and leaseback transaction from the seller-lessee perspective in accordance with HKFRS 16?

5) discuss the approach described in HKFRS 13 'Fair Value Measurement' to measure the non-financial asset.