The implementation of IFRS 16 Lease Accounting represents a significant step towards fostering greater transparency and accuracy in financial reporting. By mandating the on-balance sheet recognition of all leases, IFRS 16 ensures that a company’s financial position is accurately portrayed, providing stakeholders with a clearer understanding of the company’s overall financial health.
Definition of Lease Under IFRS 16
Types of Lease
Lessee Accounting Under IFRS 16
Lessor Accounting Under IFRS 16