IFRS 16 Leases

Authors

  • Shashikant Choubey Aljazirahford, Riyadh

DOI:

https://doi.org/10.33516/maj.v51i2.91-94p

Abstract

IFRS 16(Leases) is issued by IASB and is applicable with effect from 1st January, 2019. It has brought changes about definition of lease (as contract) and a complete setup of new accounting model, substantially different than the current one in many ways. IFRS 16 also able to facilitate capital allocation and fair investment decision making to all the stakeholders. The new standard facilitates to compare those assets acquired through borrowed fund against the lease assets in the same entity or others. Since this standard brings significant changes in recognition, measurement, accounting and disclosure in Lessee's book, IASB released a comprehensive document called 'Effect Analysis' before releasing of IFRS 16 useful to the readers and users. Business world welcome this move and expect a long lasting impact on making more qualitative economic decisions.

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Published

2016-02-01

How to Cite

Choubey, S. (2016). IFRS 16 Leases. The Management Accountant Journal, 51(2), 91–94. https://doi.org/10.33516/maj.v51i2.91-94p