IFRS 16 applies to both lessors and lessees (with limited exceptions) and replaces the current lease standard and interpretations in IFRS – IAS 17 Leases, IFRIC 4 Determining Whether an Arrangement Contains a Lease, SIC-15 Operating Leases—Incentives, and SIC-27 Evaluating the Substance of Transactions Involving the Legal Form of a Lease. Lessee accounting has changed substantially. There is little change for lessors.
Technical Services Department of ICAP has compiled a list of useful international guidance material to help you understand and apply IFRS 16 Leases. These articles were developed by external organisations and were not reviewed, drafted or approved by ICAP. ICAP accepts no responsibility or liability that might occur directly or indirectly as a consequence of the use, application or reliance on these resources.
Snapshots
A summary of IFRS 16 and its effects
(May 2016 | EY)
Project Summary and Feedback Statement
(January 2016 | IASB)
Detailed Summaries
(November 2016 | KPMG)
(June 2016 | Deloitte)
IFRS 16 Leases A more transparent balance sheet
(June 2016 |KPMG)
Major reforms to global lease accounting
(February 2016 |Grant Thornton)
(January 2016 | IASB)
Sector wise Guide
Applying IFRS IASB issues a new leases standard – Oil and Gas
(February 2017 | EY)
Applying IFRS in consumer products and retail
(June 2016 | EY)
How will IFRS 16 impact real estate entities?
(May 2016 | EY)
(May 2016 | PwC)
Leases Impact of new lease standard on upstream oil and gas companies
(April 2016 |KPMG)
An industry focus on the impact of IFRS 16 – Shipping
(March 2016 | PwC)
Property occupiers: implications of the new leasing standard
(January 2016 I Deloitte)
Aviation implications of the new leasing standard
(January 2016 |Deloitte)