• IFRS 16

The Simple Guide to IFRS 16: What You Need to Know

IFRS 16 is a new International Financial Reporting Standard for lease accounting which came into force on 1 January 2019. It replaced the existing IAS 17 accounting standard and was introduced by the International Accounting Standards Board (IASB).

At first glance, it’s a complicated piece of accounting legislation which could potentially be difficult to navigate. On closer examination, however, it’s fairly straightforward to understand, but could be less so to implement.

Here we try to make it easier for you to understand the pros, cons, and implications of IFRS 16 for your business accounting and even come up with a suggestion or two to make it simpler still.

What is IFRS 16?

IFRS 16 is the most significant change to lease accounting in over 30 years. Since its introduction on 1 January 2019, this new standard will affect most companies reporting under IFRS and will have a major impact on the financial statements of lessees of property and high-value equipment.

IFRS 16 takes a totally new approach to accounting for leases, called the ‘right-of-use’ model. This means that if a company has control over, or right to use, an asset they are renting, it is classified as a lease for accounting purposes and, under the new rules, must be recognised on the company’s balance sheet.

This no longer allows for significant financial liabilities to be held off-balance sheet, as permitted for certain types of leases (operating leases) under the previous rules. The objective is to ensure that companies report information for all of their leased assets in a standardised way and bring transparency on companies’ lease assets and liabilities.

As with other changes to accounting standards, companies will also need to produce a set of comparative accounts for the prior year.


What’s changed under IFRS 16?

Basically, the changes apply to the accounting treatment for lease agreements. Previously, these were split into finance leases and operating leasesGenerally, operating leases were not included on balance sheets but were simply accounted for via profit and loss accounts.

The biggest IFRS 16 change is that now most leased items have to be included as an asset in the company books, following the new ‘right-of-use’ model which says:

‘A contract is, or contains, a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration’ (IFRS 16, par.9)’

In addition, the lease payments you make on the agreement have to be reported as a lease liability on your balance sheet.

Accounting can be further complicated by the new standard as costs for maintenance, cleaning, etc have to be separated from the main lease payments, if they’re included in them, and reported separately.

Added to these, the depreciation of the asset and interest on the lease liability have to be shown on your profit and loss accounts.

One ‘pro’ for IFRS 16 is that, if your company carries a number of lease agreements, it can be possible to combine them into a portfolio, instead of having to individually report them. This can only be done if you can show that there is no financial advantage for you in doing this.

It’s worth noting that lessor accounting is basically unaffected by the introduction of IFRS 16.

Exceptions to the rule

There are two specific types of lease which don’t come under IFRS 16 leases and which don’t have to be recorded as an asset:

  1. A lease where the value of the item when new is low value, currently indicated as less than US$5000.
  2. A lease with a shorter than 12-month term and which does not have an option to buy the leased item at the end of the lease.

So for example, if you were to use a scheme where the lease period on a vehicle is less than 12 months and you don’t have the option to buy the cars at the end of the contract, then these would not be included under IFRS 16.

That’s a definite advantage when you consider that any maintenance, breakdown cover or anything else which is included as part of the car leasing agreement won’t need to be calculated and reported separately, as has to be done with a long-term lease agreement.

If that sounds like a good option for your business, find out how CLM’s Mini-lease can give you a cost-effective way to both lease your fleet and save yourself some accounting headaches.

What is IFRS 16 replacing?

IFRS 16 replaces IAS 17 accounting standard.

Why the change?

The objective of the change is to make sure that companies all return information for leased items in the same way, making their existence more transparent financially. Previously, businesses could hold large financial liabilities on their operating leases but keep them off the balance sheets, giving a skewed view of their overall financial status.

The IASB Chairman Hans Hoogervorst says of the new requirements:

(They) bring lease accounting into the 21st century, ending the guesswork involved when calculating a company’s often-substantial lease obligation. The new standard will provide much-needed transparency on companies’ lease assets and liabilities, meaning that off balance sheet lease financing is no longer lurking in the shadows. It will also improve comparability between companies that lease and those that borrow to buy.

Who does IFRS 16 apply to?

Initially, at least, these changes will only apply to organisations that already report using IFRS, typically international companies or PLCs. The majority of SMEs report to the UK’s generally accepted accounting principles (UK GAAP) and this is unlikely to change until around 2022/23.

If IFRS 16 does apply to your organisation then you need to first determine whether your rental contracts are actually considered to be IFRS 16 leases under the new standard, or are some other kind of contractual or service agreement.

IFRS 16 accounting

A simple example would be renting long-term storage space.

If you rent a specific unit – a self-contained building or storage container or similar – where you have sole access, you have the keys and you have exclusive use of the space during the life of the contract, then you have the right to use. This would need to appear on your balance sheet as an asset and any included maintenance costs etc would have to be pulled out and separately reported in your accounts.

Alternatively, imagine you rent some space in a large warehouse where you don’t have sole use of the facility and the landlord simply rents you some square meterage. If the area you occupy is chosen by him and can be changed by him down the line depending on the space available, then that’s not considered to be a right-of-use asset and isn’t technically a lease under IFRS 16. The payments would just be included in your profit and loss statement and you would not account in your financial statements under IFRS 16.

IFRS 16 accounting

What does this mean for financial reporting?

For companies affected by the changes, this will work in a similar way to the reporting of other non-financial assets (such as property, plant and equipment) and financial liabilities:

  • Balance sheets – lessees will need to show their right-of-use asset as an asset and their obligation to make lease payments as a liability.
  • P&L accounts – lessees will show depreciation of the asset as well as interest on the lease liability. The depreciation would usually be on a straight-line basis.

As interest charges are higher in the early years of the lease, the total impact on the P&L account is front-loaded even though rentals remain constant throughout the term of the lease.

Rather than having to account for all asset leases individually, there is scope to combine these into a portfolio. This can only be applied if the company can demonstrate that there would be no financial advantage to them taking this approach.

Affected companies will broadly have to go through three stages to be able to complete their IFRS 16 financial reporting:

  1. Identification of all their assets which will be defined as leases under the new regulations (property, equipment, vehicles, etc).
  2. Collecting all the information on these leases – term, options at end of lease, rentals payable, interest rate of the lease (if available; for operating leases this will not usually be available) so the lessee will need to think about their incremental borrowing cost (this could be the rate they internally borrow at).
  3. The accounting for their leases to recognise assets and liabilities – once all the information is assembled the calculation is actually relatively easy – it’s just finding the inputs that could be challenging.

It is expected that step 2 will be the most difficult, and potentially time-consuming, for organisations with a large number of assets.

Efficient lessors should be able to assist companies with this stage by anticipating needs and communicating proactively.

Downsides of IFRS 16

The new rules could have some significant and possibly detrimental effects on the way the company finances appear on its balance sheet.

Businesses leasing equipment will appear from their balance sheets to be more asset-rich, but they will also appear to carry a bigger debt burden. The larger your company’s number of lease agreements, the bigger the impact on its balance sheet.

  • If your company has a large lease portfolio, you’ll find that the changes will affect your key accounting and financial ratios. This may decrease the firm’s potential attractiveness to investors and its ability to raise finance.
  • You may also have problems if you already have banking covenants in place which stipulate, for example, that a specific level of profitability must be maintained for existing bank agreements to continue. You’d be wise to check with your bank to make sure the new rules won’t affect your funding.

What is included and excluded under the IFRS 16 definition of a lease?

Many leasing contracts contain elements other than the actual rental of the underlying asset (e.g. services such as maintenance). Under IFRS 16 these don’t constitute part of the lease and will need to be split out as a separate charge by the supplier.

For example, a company leases a building and rental payments include fees for maintenance, cleaning or other ancillary services. These should be separated, as only the lease of the asset itself needs to be reported on the balance sheet.

Where a supplier has the right to substitute an asset being used by the customer for an alternative asset, and they have an opportunity to gain a financial benefit from doing this, the contract is not regarded as a lease and does not need to be reported.

Payments regarded as ‘contingent to the use’ of the supplied asset (such as charges for wear and tear during the term of the lease) do not need to be included in financial reporting.

If a company has a formal option within its contract to extend the term of the lease and it takes this option, then it will need to calculate the value of the use of the asset and include this within its reporting. However, informal extensions of leases, for example where a new asset is on order, do not need to be reported.

IFRS16 also has two specific exemptions where leases do not need to be reported on balance sheets:

  • Leases with a term of 12 months or less with no purchase option (such as a car Mini-lease)
  • Leases where the asset has a low value when new (indicative definition of low value is < US$5000).
asset finance

Vehicle leasing specifics

The general rules and exemptions described above have some specific implications for vehicle leasing:

  • IFRS 16 effectively removes the distinction between Operational Leasing (of which contract hire is the most common type) and Finance Leasing. The ‘lease’ element of both forms of finance will now appear on-balance sheet.
  • Charges for ancillary vehicle services, such as maintenance, accident management, breakdown cover, etc. will need to be broken out of the overall lease payments for reporting purposes.
  • As with all assets, providing the contract is for less than 12 months, short and medium-term hire vehicles do not need to be reported as assets.
  • Informal vehicle extensions at the end of their initial contract do not need to be reported.
  • While no specific guidance has been given on items related to the usage of the vehicle (such as excess mileage or damage charges), costs that are regarded as ‘contingent payments’ based on the use of the asset do not need to be reported.
  • Where a supplier has the right to substitute a vehicle for another during the term of the contract, this is not regarded as a lease and does not need to be reported. In practical terms, this could look like pooling of cars that multiple companies can access.
  • The ability to combine assets at a portfolio level provides fleet operators with the opportunity to simplify their financial reporting.

What are the impacts of IFRS 16 leases?

While the IFRS reporting changes do fundamentally change the treatment of assets acquired through operational leasing, companies are likely to want to continue to lease assets as the majority of the benefits remain:

  • Spreading a fixed cost over the lease term of the right-of-use asset rather than outlaying capital upfront.
  • Providing 50% VAT recovery on the financing of certain assets (e.g. company cars).
  • Offering protection against fluctuations in residual values and providing the opportunity to outsource operations and services

To summarise

A very quick summary of the major changes to your financial reporting needed to comply with IFRS 16 from 1 January 2019:

  • You’ll need to identify and show on your balance sheet your right to use an item as an asset and your obligation to make payments for it as a liability.
  • You’ll need to collate all the information on the leases – term, lease payments, end-of-term options, etc. and then extract and show separately any part of the payments which are not applicable to IFRS 16.

You might also find this video, from IFRSbox, useful. It covers an overview of IFRS 16 and the accounting treatment.

If you need more help with any aspect of IFRS 16, contact an accountant who should be able to assist with the technicalities or advice in specific circumstances.

Maxxia is one of the UK’s fastest-growing asset finance companies, providing a comprehensive range of leasing and asset finance services.

Important: The Maxxia Group of companies does not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

2021-01-21T18:10:32+00:00March 5th, 2019|Categories: Accounting, Asset Finance, Contract hire, Vehicle Finance|


  1. Extra Super P Force January 3, 2022 at 5:15 am - Reply

    Extra Super P Force is combined medicine of Sildenafil and Dapoxetine which is used to cure erectile dysfunction and premature ejaculation. So this is called “blend medicine”

  2. Vidalista 20 January 3, 2022 at 4:55 am - Reply

    Vidalista 20 contains a dosage of Tadalafil which is used to cure erectile dysfunction in men (Also called impotence in men). Visit our site to buy Vidalista 20 at the best price

  3. Vidalista 40 December 28, 2021 at 5:53 am - Reply

    Vidalista 40 can be referred to as a brand used to describe Tadalafil. It’s approved to de-wind and increase blood flow to certain parts within the human body. Its primary use is to improve sexual performance in males. It’s also a popular treatment for the extended prostate

  4. Olivia Garcia December 28, 2021 at 5:50 am - Reply

    [url=https://www.medicscales.com/vidalista-40-mg/]Vidalista 40[/url] can be referred to as a brand used to describe Tadalafil. It’s approved to de-wind and increase blood flow to certain parts within the human body. Its primary use is to improve sexual performance in males. It’s also a popular treatment for the extended prostate

    Read More:
    [url=https://www.medicscales.com/vidalista-20-mg/]Vidalista 20[/url]
    [url=https://www.medicscales.com/cenforce-100-mg/]Cenforce 100[/url]
    [url=https://www.medicscales.com/cenforce-200-mg/]Cenforce 200[/url]

  5. Cialis fiyat December 23, 2021 at 1:44 pm - Reply

    Cilis fiyat listesi bu sayfada.

  6. Waklert 150 December 17, 2021 at 12:22 pm - Reply

    Waklert may be a drug that promotes wakefulness. Waklert 150 pill is employed to scale back excessive temporary state caused by apnea, narcolepsy, or shift work upset. Waklert may additionally be used for functions unlisted during this medication guide.

  7. Cenforce 200 December 10, 2021 at 11:18 am - Reply

    Sexual impotence is caused by erectile dysfunction. For erectile dysfunction (ED), Cenforce 200 mg tablets are a highly effective and widely recognized treatment. Cenforce 200 mg tablets can also be used to treat erectile dysfunction.

  8. Allgenericpills December 9, 2021 at 4:26 am - Reply

    Are you searching a generic pills? Visit our trusted online pharma, Allgenericpills. Here you will get all kind of pills such as treatment of ED, muscle pain, insomnia, sleep disorder, anxiety, nerve pain, etc. Our aim is to provide you best service and take care of your health.

  9. Status Meds November 17, 2021 at 6:48 am - Reply

    Thank you for sharing very Helpfully article………..

  10. smartfinil November 15, 2021 at 11:11 am - Reply

    You can shop online smart pills at Smartfinil , this is trusted generic store across worldwide. It provides high-quality medicines at affordable cost. Here you will get all types of medicine to manage your health problems.

  11. Genericvilla November 15, 2021 at 9:21 am - Reply

    When it comes to medications, the highest possible quality is essential. Log in to Genericvilla to browse and buy branded drugs that will be delivered to your house. As soon as we receive your order, we process it and ensure that you receive precisely what you want; processing, packing, shipping, and delivery to your door usually takes 8-14 days.

  12. achat en ligne maroc November 10, 2021 at 8:03 pm - Reply

    i think it’s correct

  13. Ivydub November 10, 2021 at 1:00 pm - Reply

    [url=https://zanaflex.quest/]tizanidine 4 mg brand name[/url]

  14. Yondub November 10, 2021 at 11:31 am - Reply

    [url=http://propranolol.online/]propranolol pills online[/url]

  15. web site November 10, 2021 at 11:30 am - Reply

    site indexletme işlemi.

  16. Wow, awesome blog layout! How long have you been blogging
    for? you made blogging look easy. The overall look of your web site is magnificent, as well as the content!

  17. Marydub November 10, 2021 at 8:18 am - Reply

    [url=https://buyiveromectin.com/]price of stromectol[/url]

  18. Nickdub November 10, 2021 at 8:15 am - Reply

    [url=http://iveromectinforhumans.online/]ivermectin 3mg for lice[/url]

  19. web site November 10, 2021 at 8:03 am - Reply

    site indexletme işlemi.

  20. Nickdub November 10, 2021 at 7:27 am - Reply

    [url=http://sildenafilcitrat.com/]sildenafil free shipping[/url]

  21. Learn This Here Now November 10, 2021 at 7:13 am - Reply

    Informative article, just what I needed.

  22. Samdub November 10, 2021 at 6:34 am - Reply

    [url=http://ivermectinforsale.online/]buy liquid ivermectin[/url]

  23. Jackdub November 10, 2021 at 5:58 am - Reply

    [url=https://ivermectinx.online/]ivermectin 5ml[/url]

  24. Ivydub November 10, 2021 at 3:56 am - Reply

    [url=https://ivermectinx.online/]where to buy ivermectin[/url]

  25. Suedub November 10, 2021 at 3:12 am - Reply

    [url=https://buyiveromectin.com/]ivermectin 0.08%[/url]

  26. Miadub November 10, 2021 at 3:02 am - Reply

    [url=https://tadalafilng.com/]tadalafil 30[/url]

  27. ManuelRam November 10, 2021 at 2:39 am - Reply



  28. Yondub November 10, 2021 at 2:28 am - Reply

    [url=http://iveromectinforhumans.com/]purchase stromectol[/url]

  29. novogorskpark.ru November 10, 2021 at 2:13 am - Reply

    Good day I am so grateful I found your weblog, I really
    found you by mistake, while I was researching on Yahoo for something else, Nonetheless I am here
    now and would just like to say kudos for a tremendous
    post and a all round thrilling blog (I also love the theme/design), I don’t have time to look over it all at
    the minute but I have saved it and also included your RSS feeds, so
    when I have time I will be back to read a great deal more, Please do keep up the excellent

  30. Ivydub November 10, 2021 at 1:15 am - Reply

    [url=https://bestviagratablets.com/]buy viagra with mastercard[/url]

  31. Joedub November 10, 2021 at 12:31 am - Reply

    [url=https://buygenericcialis.quest/]cialis online india pharmacy[/url]

  32. Samdub November 9, 2021 at 11:18 pm - Reply

    [url=http://tadalafilbuybest.com/]tadalafil tablets 80 mg[/url]

  33. Janedub November 9, 2021 at 11:04 pm - Reply

    [url=https://brandnewviagra.com/]generic viagra online from india[/url]

  34. Annadub November 9, 2021 at 10:56 pm - Reply

    [url=http://ivermectinvi.com/]ivermectin generic name[/url]

  35. Evadub November 9, 2021 at 9:36 pm - Reply

    [url=http://uxviagra.com/]buy viagra online without rx[/url]

  36. Samdub November 9, 2021 at 8:52 pm - Reply

    [url=http://zofran.online/]buy zofran 4mg[/url]

  37. Jimdub November 9, 2021 at 8:09 pm - Reply

    [url=https://trental.online/]buy trental 400 mg online uk[/url]

  38. Eyedub November 9, 2021 at 7:56 pm - Reply

    [url=http://ivermectinx.online/]covid ivermectin[/url] [url=http://genericialis.com/]cialis buy online[/url] [url=http://buycheapcialis.online/]online cialis order[/url] [url=http://tadalafilwithoutdoctor.com/]tadalafil generic coupon[/url] [url=http://zanaflex.quest/]tizanidine medicine[/url] [url=http://tadalafilnd.com/]tadalafil tablets india online[/url] [url=http://ivermectinxs.com/]stromectol cost[/url] [url=http://viagrabuyb.com/]viagra singapore[/url] [url=http://buycialistablet.com/]how to buy cialis in usa[/url] [url=http://diclofenac.quest/]diclofenac 100 mg price[/url]

  39. Jimdub November 9, 2021 at 7:23 pm - Reply

    [url=https://sildenafilvb.com/]sildenafil 10 mg[/url]

  40. Pauldub November 9, 2021 at 5:48 pm - Reply

    [url=https://generiviagra.com/]where can you buy viagra over the counter in uk[/url]

  41. Jackdub November 9, 2021 at 4:26 pm - Reply

    [url=https://cialisot.com/]cialis brand 20mg[/url]

  42. https://Melhorcassinoonline.xyz/ November 9, 2021 at 3:41 pm - Reply

    I like the helpful information you provide in your articles.
    I will bookmark your weblog and check again here regularly.

    I’m quite sure I will learn many new stuff right here!
    Good luck for the next!

  43. melhoressitesdeapostasonline.xyz November 9, 2021 at 3:24 pm - Reply

    With havin so much content and articles do you ever
    run into any problems of plagorism or copyright infringement?
    My website has a lot of unique content I’ve either created myself or outsourced
    but it appears a lot of it is popping it up all over the
    web without my agreement. Do you know any techniques to help protect against content from being ripped off?
    I’d genuinely appreciate it.

  44. Ugodub November 9, 2021 at 2:02 pm - Reply


  45. Kimdub November 9, 2021 at 1:35 pm - Reply

    [url=https://cialisub.com/]buy cialis canadian pharmacy[/url]

  46. Judydub November 9, 2021 at 1:31 pm - Reply

    [url=http://txtadalafil.com/]tadalafil generic price[/url]

  47. Suedub November 9, 2021 at 12:39 pm - Reply

    [url=https://buygenericcialis.quest/]cialis professional 20 mg[/url]

  48. Joedub November 9, 2021 at 12:34 pm - Reply

    [url=https://neocialis.com/]prescription cost for cialis[/url]

  49. Teodub November 9, 2021 at 11:57 am - Reply

    [url=http://cialisdtablets.com/]cialis for daily use 5mg[/url]

  50. Jimdub November 9, 2021 at 11:02 am - Reply

    [url=https://sildenafilol.com/]sildenafil citrate over the counter[/url]

  51. Janedub November 9, 2021 at 10:19 am - Reply

    [url=https://tenormin.quest/]tenormin 50mg[/url]

  52. Annadub November 9, 2021 at 9:30 am - Reply

    [url=http://plavix.quest/]plavix generic available[/url]

  53. tiktok porn November 9, 2021 at 9:22 am - Reply

    tiktok porno izle.

  54. Nickdub November 9, 2021 at 9:21 am - Reply

    [url=http://priligy.quest/]buy genuine priligy[/url]

  55. Evadub November 9, 2021 at 7:40 am - Reply

    [url=http://disulfiram.online/]disulfiram rx[/url]

  56. takipçi satın alma instagram November 9, 2021 at 7:22 am - Reply

    Whats up this is kinda of off topic but I was wondering if blogs use WYSIWYG editors or if you have to manually code with HTML.

    I’m starting a blog soon but have no coding skills so I wanted
    to get advice from someone with experience. Any
    help would be enormously appreciated!

  57. Jimdub November 9, 2021 at 6:27 am - Reply

    [url=https://wellbutrin.quest/]order wellbutrin online[/url]

  58. Evadub November 9, 2021 at 5:28 am - Reply

    [url=http://valtrex.quest/]buy valtrex uk[/url]

  59. Miadub November 9, 2021 at 4:53 am - Reply

    [url=https://ivermectinm.com/]buy ivermectin uk[/url]

  60. Janedub November 9, 2021 at 4:39 am - Reply

    [url=https://singulair.quest/]singulair 50 mg[/url]

  61. Carldub November 9, 2021 at 3:12 am - Reply

    [url=http://nicialis.com/]cialis buy australia[/url]

  62. Ivydub November 9, 2021 at 3:08 am - Reply

    [url=https://buyiverpill.com/]ivermectin lice oral[/url]

  63. queendiscoverwew November 9, 2021 at 2:39 am - Reply

    Internetska trgovina queendiscover.news je elegantna muška i ženska odjeća vodećih modnih dizajnera u Rusiji i Francuskoj s dostavom u cijeloj zemlji. Imamo osnovne i originalne modele za svaki dan i za posebne prilike, za poslovne sastanke i aktivnosti na otvorenom. U trgovini queendiscover.news možete kupiti artikle za svako godišnje doba. Svijetle boje, neobični otisci, originalni kroj, različiti stilovi omogućit će vam da izgledate spektakularno, privučete pozornost, stvorite vlastiti stil. Visoka kvaliteta po pristupačnoj cijeni – počastite se proizvodima popularnih brendova. slika zalihe and zid tretmani prodavnica [url=https://queendiscover.news/29-category]alat and pribor sa isporukom[/url]

  64. melhor casa de apostas online November 9, 2021 at 2:32 am - Reply

    Howdy! I simply want to offer you a huge thumbs up for your great information you’ve
    got right here on this post. I am returning to your site for more soon.

  65. poiskcollectionwew November 9, 2021 at 2:32 am - Reply

    Roba za svakodnevnu upotrebu, elektronika i tisuće drugih proizvoda s popustima, promocijama i povratom novca. Pristupačne cijene, akcije, popusti. Visoka kvaliteta po pristupačnoj cijeni – počastite se proizvodima popularnih brendova. tableta pribor jeftino [url=https://poiskcollection.news/nakit-postavlja-and-vise_4.htm]nakit postavlja and viЕЎe sa popustom[/url]

  66. Miadub November 9, 2021 at 2:25 am - Reply

    [url=https://tviagra.com/]how much is 100 mg viagra[/url]

  67. Ugodub November 9, 2021 at 2:09 am - Reply

    [url=https://vxtadalafil.com/]buy tadalafil 20 mg from india[/url]

  68. Jimdub November 9, 2021 at 1:58 am - Reply

    [url=https://viagrabuyb.com/]female viagra tablet in india online purchase[/url]

  69. Boodub November 9, 2021 at 1:56 am - Reply

    [url=https://tadalafilbuybest.com/]tadalafil india buy[/url]

  70. tiktok hacklink November 9, 2021 at 1:51 am - Reply

    tiktok porno izle.

  71. casasdeapostas.xyz November 9, 2021 at 12:25 am - Reply

    I for all time emailed this webpage post page to all my associates, for the reason that if like to read it after that my friends will too.