IFRS 16 is a lease accounting standard issued by the International Accounting Standards Board (IASB) that sets out the accounting treatment for leases. This includes their recognition, measurement, presentation, and disclosure. The standard has been updated over time, and in this complete guide we will lay out all you need to know about IFRS 16.
IFRS 16 became effective on January 1, 2019. Under IFRS 16, the definition of a lease was broadened, to include contracts that might contain a lease even if this is not explicitly stated. How and what does this mean for your company?
This guide will take a comprehensive look IFRS 16:
- overview of IFRS 16
- changes that have taken place in the lease standards
- how to calculate the essential amounts required by the standard
- impact of IFRS 16
- disclosure requirments
- and more
Finally, learn how Trullion’s AI-powered lease accounting solution can help with all of your IFRS 16 needs. Fill the form to find out!