IFRS 16 – the new lease accounting standard
IFRS 16 Leases was published by the International Accounting Standards Board (IASB) on 13th January 2016 and will entail farreaching changes for lessees. Accordingly, they must capitalise all assets from leases in their balance sheet and recognise the corresponding payment obligation as a liability in future. This means that not only the picture of the balance sheet will change accordingly, but also the key figures of many enterprises – particularly those that have large numbers of leased assets.
The following white paper, written by Bianca Ihlenfeldt, In-house Consultant at LucaNet AG, gives you an overview of the essential modifications and effects resulting from the new leases standard for lessees.
Contents of this white paper
- Reasons for the reform of IAS 17
- Changes resulting from the new standard and who’s affected
- Future accounting by lessees
- Repercussions of the IFRS 16 on lessees
- Affected sectors
- To be noted