New Accounting Standard IFRS 16 on Leases

 

The International Accounting Standards Board (IASB) has issued a new accounting International Financial Reporting Standard on leases. IFRS 16 Leases replaces the old 17. The big change is a requirement to show operating leases on the balance sheet, to better reflect economic reality. The only exceptions are for leases less than 1 year and small ticket items. The new IFRS 16 will be effective from January 2019.

Eamon McNicholas
Tax Barrister, Accountant
http://www.EamonMcNicholas.com

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About Eamon McNicholas

Tax Barrister, Accountant www.EamonMcNicholas.com
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