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IFRS 16 replaces IAS 17, IFRIC 4, SIC-15 and SIC-27. IFRS 16 sets out the principles for the recognition, measurement, presentation and disclosure of leases. In May 2020 the Board issued Covid-19-Related Rent Concessions, which amended IFRS 16.
understanding of IFRS 16’s detailed guidance on lease modifications is currently essential, and many lessees have taken advantage of the new practical expedient for rent concessions. This publication provides an overview of IFRS 16’s accounting models for lessees and lessors.
Involving the Legal Form of a Lease (SIC 27). This BDO IFRS® Accounting Standards In Practice sets out the requirements of IFRS 16 in relation to the classification and measurement of leases, primarily from the perspective of lessees, with a brief overview of the requirements for lessor accounting. The requirements of IFRS 16 in relation to ...
We have been releasing our in-depth application guidance on IFRS 16 Leases in manageable chunks, one chapter at a time. Each one focuses on a particular aspect and includes explanations of the requirements and examples showing them in practice, to help you apply the new standard.
19 mar 2009 · IFRS 16 specifies how an IFRS reporter will recognise, measure, present and disclose leases. The standard provides a single lessee accounting model, requiring lessees to recognise assets and liabilities for all leases unless the lease term is 12 months or less or the underlying asset has a low value.
• IFRS 16 Leases requires lessees to put most leases on their balance sheets. • Lessees apply a single accounting model for all leases, with certain exemptions. • For lessors, the accounting is substantially unchanged from the accounting under IAS 17 Leases. • IFRS 16 is effective for annual periods beginning on or after 1 January 2019 ...
Download IFRS 16 - In Depth. The new accounting standard IFRS 16 - "Leases, becomes applicable for reporting periods beginning on or after 1 January 2019. This publication includes detail discussions of the new lease accounting requirements for lessees' and lessors. Find out how we can help you.
