General / January 10th 2017

Lease accounting changes – IFRS16

Leases are a source of financing that are used by a number of companies. Under current accounting rules only a finance lease ends up on the balance sheet. Significant numbers of companies will have operating leases, for example a property lease for 5 years, which is only disclosed in the notes to the financial statements. Some might argue that as a result investors are unable to get an accurate picture of a company’s off balance sheet obligations. New IFRS16 rules For accounting periods commencing 1 January 2019, for those lessees who prepare the financial statements under International Financial Reporting Standards (IFRS) there are going to be significant accounting changes with regards to operating leases in that these will be brought onto the balance sheet under IFRS 16 ‘Leases’. (more…)

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