The world of Lease Accounting is set for a radical makeover. In January 2016, the International Financial Reporting Standards Foundation issued IFRS 16, and in February 2016, the U.S. Financial...
In today’s article we will provide a detailed example of the full retrospective approach with the accounting entries that illustrate the transition impact of IFRS 16.
This article answers how to transition from an operating lease under current IAS 17 to the single lessee accounting model – a finance lease using the cumulative effect approach.
In today’s blog post, we will provide a glimpse of the IFRS 16 transition considerations for lessees because of the new international lease accounting standard, IFRS 16, Leases.
New Rules Go Into Effect in December 2018 But Apply Retroactively to Comparable Year Financials