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What is IFRS 16 Introduces A Single Lessee Accounting Model and Requires A Lessee To Recognise Assets and Liabilities For All Leases With A Term of More Than 12 Months about?
IFRS 16 establishes a unified lessee accounting model requiring lessees to recognize assets and liabilities for leases longer than 12 months. Key components include right-of-use assets and various liabilities such as estimated dismantling costs and leasing costs. The standard impacts the profit and loss statement through interest charges and depreciation.
- Author
- Mohamed Sakhr
- Language
- EN