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IFRS 16 Leases - tackling the practicalities

Avni Mashru discusses the impact of bringing leases on balance sheet under IFRS 16.

Avni Mashru discusses the impact of bringing leases on balance sheet under IFRS 16. Tackling the practicalities of IFRS 16She looks at group situations, the impact of acquisitions, impairment considerations, alternative performance measures and the broader impact of IFRS 16.

The start of 2019 was a significant milestone in the accounting world – former chairman of the International Accounting Standards Board, Sir David Tweedie, is finally able to fly on an aircraft that is almost certain to be on an airline’s balance sheet. For accounting periods beginning on or after 1 January 2019, the long awaited IFRS 16 Leases comes into effect. The standard has become associated with its ground breaking headline of requiring almost all leased assets to be recognised on balance sheet along with their associated lease liabilities.