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Are You Ready for the New Lease Accounting Rules that Will Impact Your Financial Statements?

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...

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IFRS 16 Transition Series for Lessees – Example 2

George Azih IFRS 16, Lease Accounting Transition January 3, 2018

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.

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IFRS 16 Transition Series for Lessees – Example 1

George Azih IFRS 16, Lease Accounting Transition December 19, 2017

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.

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Are You Prepared for the Transition to IFRS 16 - the New Lease accounting Standard?

George Azih Lease Accounting, IFRS 16, Lease Accounting Standard November 30, 2017

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.

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Lease Accounting Transition Guide for FASB 842 and IFRS 16: Step by Step Guide on Adopting the New Lease Accounting Standards

New Rules Go Into Effect in December 2018 But Apply Retroactively to Comparable Year Financials

Before you start the process of adopting FASB 842 and IFRS 16, it’s crucial that you understand the...

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