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 […]