The new normal for lease accounting

Introduced by Patricia Stebbens, this publication provides an overview of IFRS 16 and how it affects the financial statements of the lessee and the lessor.

International Financial Reporting Standards (IFRS) 16 Leases has now been successfully adopted by companies reporting under IFRS® Standards. 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 found much that was familiar in IFRS 16, they faced new guidance on a number of aspects, from separating lease and non-lease components, to more radical accounting changes for more complex arrang...

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Authors: Patricia Stebbens

Published Date: 07 April 2021