• IFRS 16: Leasing Standard

Navigating the new Leases standard

IFRS 16 Leases brings significant changes in accounting requirements for lease accounting, primarily for lessees. IFRS 16 is effective for annual periods beginning on or after January 2019, whereas ASC 842 Lease Accounting has later effective dates depending on the nature of the entity. Once ASC 842 becomes applicable, there are multiple differences between IFRS and U.S. GAAP in this area, the main one being that IFRS 16 does not have a distinction between operating and finance leases.

IFRS 16 At A Glance
A brief document explaining the key requirements for both lessees and lessors under IFRS 16, the key application guidance, key definitions and disclosures.

IFRS in practice: IFRS 16 Leases
This publication looks at the scope of IFRS 16 and the required accounting for both lessees and lessors. It also explores the impacts of IFRS 16 in practice, including a number of examples.

IFR bulletin: 2020/05 - IASB responds to question about IFRS 16 and COVID-19
This document highlights relevant requirements in IFRS 16 and other IFRS Standards when considering how to account for rent concessions that are granted as a result of the COVID-19 pandemic.

IFR bulletin: 2020/08 – IASB Issues Amendments to IFRS 16: COVID-19 Related Rent Concessions
This publication explains the practical implications of the amendments with examples and includes a flowchart to demonstrate how the criteria to utilize the practical expedient are evaluated.