What IFRS 16 Leases - Single Lessee Accounting Model and Right-of-Use Asset Recognition (2016) requires
IFRS 16 requires lessees to recognize most leases on their balance sheets by recording a right-of-use (ROU) asset and a corresponding lease liability, effectively eliminating the distinction between operating and finance leases. This single lessee accounting model, outlined in IFRS 16.22, aims to provide a more faithful representation of a company's assets and liabilities.
Pillar: Banking & Global Finance · Authority: International Accounting Standards Board (IASB) · Version: 1.0.0 · Last updated:
Primary source: https://www.ifrs.org/issued-standards/list-of-standards/ifrs-16-leases/
SHA-256 integrity: 4132462b698b816149e785e9d603d956c0526a6a3f33c0df89640b2a32e72f3a
Primary Citations — 8 traced to source
- IFRS 16, Paragraph 5: Recognition exemptions
- IFRS 16, Paragraph 9: Identifying a lease
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