IFRS News Special Edition on IFRS 16, Leases: Major reforms to global lease accounting

Financial Reporting Standards

February 5, 2016

The IASB has published IFRS 16 ‘Leases’ completing its long-running project on lease accounting.

IFRS 16 will require lessees to account for leases 'on-balance sheet' by recognizing a 'right-of-use' asset and a lease liability. For many businesses, however, exemptions for short-term leases and leases of low value assets will greatly reduce the impact.

This special edition of IFRS News, published by the Grant Thornton International Ltd. IFRS Team, explains the key features of the new Standard and provides practical insights into its application and impact. 

See the attached IFRS Special Edition on Leases below.

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