Transcription of IFRS 16 – An overview
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IFRS 16 – An overview
ifrs 16 An overviewThe new normal for lease accountingMarch ifrs 16 at a glance Key facts Key application issues 32 Lessee accounting Lessee accounting model Initial measurement of the lease liability Initial measurement of the right-of-use asset Subsequent measurement of the lease liability Subsequent measurement of the right-of-use asset Recognition exemptions for lessees Presentation and disclosure 203 Lessor accounting Lessor accounting model lease classification Operating lease model Finance lease model Presentation and disclosure 294 lease definition overview Identified asset Economic benefits from using the asset Right to direct the use 405 Separating components overview Identify separate lease components Identify separate no
IFRS 16 Leases has now been successfully adopted by companies reporting under IFRS® Standards. It is the new normal for lease accounting around the world. IFRS 16 had a significant impact on the financial statements of lessees with ‘big-ticket’ leases, from retailers to banks to media companies. Although lessors
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