Leases - A summary of IFRS 16 and its effects - …

Leases A summary of ifrs 16. and its effects May 2016 . Leases | A summary of ifrs 16 and its effects | May 2016 1. I F R S 1 6 Leases R o ad m ap Definition of a lease W h o ? benefits Rig h t to control th e use of th e Identified asset and identified asset N o sub stantiv e Rig h t to ob tain Rig h t to No benefits from sub stantial l y direct rig h ts to sub stitution al l economic sub stitute th e use benefits L ease p ayments V ariab l e l ease P urch ase op tions 1 Residual v al ue T ermination op tion p ayments th at Fix ed p ayments ( ex ercise p rice). g uarantees 2 p enal ties 3 dep ends on an index or rate 1. Include only if reasonably certain of exercise. 2. Lessees use the amounts they expect to pay. Lessors include any guarantee. 3. Include unless reasonably certain not to be exercised. 2 Leases | A summary of ifrs 16 and its effects | May 2016 .

8 Leases | A summary of IFRS 16 and its effects | May 2016 Entities most likely to be affected by the changes The effects of IFRS 16 will need to be assessed on the facts and circumstances relevant to each entity.

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