ifrs 16 illustrative disclosures pwc

Assumptions made1-4 In compiling these illustrative disclosures, we have made the following assumptions: & The company has chosen 1 January 2015 as the date of initial application for the adoption of the new standard. 635 0 obj <>/Metadata 183 0 R/Pages 2 0 R/StructTreeRoot 33 0 R/Type/Catalog>> In compiling the illustrative disclosures, we have made a number of assumptions in relation to the adoption of IFRS 16. 7.5 Although the new standard was published in 2016, its implementation is difficult for many entities. uuid:92e3dfa0-1cf2-452b-bb8b-b478702b1dab leases interim Practical guide to Phase 2 amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 for interest rate benchmark (IBOR) reform The IASB has issued amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 that address issues arising during the reform of benchmark interest rates including the replacement of one benchmark rate with an alternative one. While this ‘gross up’ in total assets and total liabilities is the most obvious impact of adopting IFRS 16, there are a number of less obvious impacts that adoption of IFRS 16 will have, since it intersects with other IFRSs. of IFRS 16: • Disclose the fact that IFRS 16: Leases has not yet been applied, that it is 2 PwC – Illustrative IFRS consolidated ﬁnancial statements for 2012 year ends v In particular, NZ IFRS RDR Limited: • has applied the simplified transition approach and has not restated comparative information They do not cover all possible disclosures that IFRS requires. application/pdf 651 0 obj IFRS 16 requires different and more extensive disclosures about leasing activities than IAS 17. ... Interim disclosures in the first year of applying IFRS 16 Author: PwC Subject: After adopting IFRS 16, many companies will issue interim financial statements under IAS … BC218-BC223) Additional disclosures (paragraph 59) (paras. PwC The PwC Illustrative condensed interim financial statements provide illustrative disclosures. <> The example disclosures are not the only acceptable form of presenting financial statements. Areas in which presentation has changed significantly since 2017 are highlighted. Accordingly, this guide IFRS in Focus — IASB issues 'Interest Rate Benchmark Reform — Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16)' 02 Sep 2020 IAS 34 compliance checklist 2020 2 0 obj Determining the level of disclosure is a matter of ... PwC – Illustrative IFRS corporate consolidated ﬁnancial statements for … Most companies will have to make changes to their disclosures this year to reflect the adoption of NZ IFRS 16 Leases. Search. Additional accounting disclosures may be required in order to comply with local laws and/or stock exchange regulations. Areas in which disclosure requirements have changed since 2013 are highlighted in grey. IAS 34 This publication (pdf,830kb) presents illustrative disclosure introduced or modified by IFRS 9 'Financial instruments' for a fictional medium-sized bank.. We have illustrated a realistic set of disclosures for a medium-sized bank. x��][o\Ǒ~��0��:��e7��ā� �Z��wG&��⟔�]u.sf�kș�.ـrL��ꮮ{-^�u��߿��7��a��r��Y�.y��6��/T��O/_,��m\1�/��|�}�L�ӻ�/~(��ǿ|�X��i��No�'��O�W��R2��9t�-��/_��w�ۗ/�~S��_�Λś˗/t�MU�k(-י�x��]\��O�,��2�\,�o��/_��{߿|q,�͝us�9��. Disclosures. 8.278333333333332 <> PwC commentary has been provided, in grey boxes, to explain the detail behind the presentation of a number of challenging areas. 88 0 obj 390706 <>stream Example 1: Illustrative financial statements for SMEs 39 0 obj The financial statements comply with International Financial Reporting Standards (IFRS) as issued at 31 May 2018 and that apply to financial years … It enables companies to use property, plant, and equipment without needing to incur large initial cash outflows. 763 0 obj This has been updated to outline the disclosures required by all standards and interpretations for December 2014 year ends. PwC – Illustrative IFRS consolidated ﬁnancial statements for 2013 year ends v endobj �vz#�Tu9��x�'֡��cM��?��f�ܙ. endobj pwc, ifrs 16, in brief In this paper, we highlight the key disclosure requirements and provide example disclosures. Visit inform.pwc.com IFRS disclosure checklist 2015 Outlines the disclosures required for 31 December 2015 year ends. We have illustrated a realistic set of disclosures for a medium-sized bank. Guides to IFRS financial statements (KPMG) Annual and interim illustrative disclosures for a fictitious multinational corporation, with supplements dedicated to IFRS 16, IFRS 15 and IFRS 12. An appendix illustrating new leasing disclosures that will be applicable when an entity has adopted IFRS 16 ‘Leases’ as a … <> 2019-05-01T10:25:36.000Z 786b77a77707cbd84dab7a6a741864d3c4714237 484 0 obj <> Under IFRS 16 lessors, unlike lessees, must continue to distinguish between finance and operating leases. The objective of the disclosure requirements is to give a basis for users of financial statements to assess the effect that leases have on the financial statements. IFRS disclosure checklist 2014 IFRS disclosure checklist 2014 Stay informed. 34 0 obj Investors, regulators and other stakeholders might focus on these disclosures. However, as this pub not cover all possible disclosures that IFRS require. This edition is modelled on our global IFRS 2019 publication and shows - using shading - the disclosures that can be removed if an entity is reporting under Tier 2. It will replace IAS 17 Leases for reporting periods beginning on or after 1 January 2019. The IFRS Foundation publishes Illustrative Examples as accompanying materials to the IFRS Standards. These interims will be the first financial statements Leases. 28 0 obj endobj They do not cover all possible disclosures that IFRS requires. Under IFRS 16, lessees will need to recognise virtually all of their leases on the balance sheet by recording a right of use asset and a lease liability. for illustrative purposes and may not be consistent throughout the publication. • the primary financial statement captions and illustrative note disclosures presented in this appendix are only those impacted by IFRS 16 • the date of initial application of IFRS 16 by the Group is assumed to be 1 January 2019, and therefore the Standard was not adopted early … The illustrative disclosures outlined in this publication are in accordance with IFRSs, disclosures required by regulatory bodies have not been included. 159 0 obj In addition, IFRS and its interpretation change over time. pwc-content-type:publication Guides to IFRS financial statements (KPMG) Annual and interim illustrative disclosures for a fictitious multinational corporation, with supplements dedicated to IFRS 16, IFRS 15 and IFRS 12. 46 0 obj However, as this publication is a reference tool, we have not removed any disclosures based on materiality. The new leasing disclosures, applicable when an entity has adopted IFRS 16 Leases as a lessee, are illustrated in Appendix E . IFRS 16 specifies how an IFRS reporter will recognise, measure, present and disclose leases. This publication is based on the requirements of IFRS standards and interpretations for ﬁnancial years beginning on or after 1 January 2011. Illustrative disclosures. • a summary of the important illustrative examples accompanying IFRS 16 dealing with the identification of leases; • convenient checklists for IFRS 16’s presentation and disclosure requirements (separately for lessees and lessors); and • a brief comparison with US Generally Accepted Accounting Principles (US … <> IFRS 16 . ��v�|eN��|y?ޕ��W�� |º��:�v!�.x Under existing rules, lessees generally account for lease transactions either as off-balance sheet operating or as Illustrative IFRS consolidated financial statements for 2015 year ends. Interim disclosures in the first year of applying IFRS 16, pwc:services/audit_and_assurance/ifrs_reporting/ifrs_16. Alternative presentations may be acceptable if they comply with the specific disclosure requirements prescribed in IFRS. The objective of the disclosures is to provide users of financial statements with a basis to assess the effect of leasing activities on the entity’s … The accounts comply with IFRS as issued at 31 May 2020 and that apply to financial years commencing on or after 1 January 2020. In particular, VALUE IFRS Plc: has applied the simplified transition approach and has not restated comparative information does not have any right-of-use assets that would meet the definition of investment property Includes illustrative disclosures of … IFRS 16 requires different and more extensive disclosures about leasing activities than IAS 17. Phase 2 amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 – interest rate benchmark (IBOR) reform. IFRS 12 aims to provide the users of financial statements with sufficient disclosures for them to … IFRS 9, ‘Financial instruments’, effective for reporting periods commencing on or after 1 January 2018, brings in extensive new disclosure requirements. <>/MediaBox[0 0 540 720]/Parent 2 0 R/Resources<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]/XObject<>>>/StructParents 1/Tabs/S/Type/Page>> These examples also illustrate the tagging of new elements added to the IFRS Taxonomy 2019 as a result of the analysis of common reporting practice on IFRS 13 Fair Value Measurement (see Example 15) and general improvements (see Examples 7, 8 and 17) . PwC We also publish an IFRS disclosure checklist 2014. The IASB has undertaken a two-phase project to consider what, if any, reliefs to give from the effects of IBOR reform. IFRS 16 Leases was issued by the IASB in January 2016. endobj <>stream Areas in which presentation has changed significantly since 2017 are highlighted. ... PwC – Illustrative IFRS financial statements 2015 1 . endobj ��lk3j��Z�:��t�::��v��0�B0Ղ�]��ݷ�Q�Q�*��M�*�!�#Z�ls`L��ō��`��=��P?�0c��C��nt7-��t��-�F��2�">��wi!��釾��~j&��m��И�U�� y8jU�p�.Fc�z� ��S�\1��I��)*U��3�~ߏN�6�:��Up��Ne [!�]o�Q�+c(J�.o0Uǚ^��MQ��o�耨c��cf�{�@M@ﷄ0�ʢ�\ǚ�c+��.�"'��j�2h}��$��3$V��C�Li��C��Vڢ2G�=c��E��ǆW�ڤv�G�㐠Np:�\�V�Z�2�[��Ul��$�}z�D�Ѕ D��h�ҏ�FF�V��b�}=]=��i}}9��sŶ�$��g�ٶ5��e^��1ԧ��rnt��֬� O��}�Nw�yL� R��F"��W��(j�Ə_�(�+(sq��㳺^��wF/Fj�V��C�@�/�"��Q��M�[2�#��AR��!�l(�� V�!��/ An appendix illustrating new leasing disclosures that will be applicable when an entity has adopted IFRS 16 ‘Leases’ as a … BC224-BC227) Presentation of lessee disclosures in the notes to the financial statements (paragraphs 52 and 54) (para. 668 0 obj Further speciﬁc ... PwC – Illustrative IFRS consolidated ﬁnancial statements for 2012 year ends vii. <> 183 0 obj <> IFRS 16, leases, interim, IAS 34 • Illustrative IFRS consolidated ﬁ nancial statements for 2013 year ends inform.pwc.com – Accounting and auditing research at your ﬁ ngertips Pape r from "��'_�?؝�M� j��XX�B`}�D��T&�. 362510 Some of the disclosures in this publication would likely be immaterial if VALUE IFRS Plc was a ‘real life’ company. eȻ��4C�k�4w�Ѝ�ۙ��U�_vX�Ƿ�W��|��}�l��W�k��G`��&�^��M��'C2��ZZZ��zrW=�uÌe!��և��F�V)�fn��|dX�8� �Vg5��d��$s|%d��Ȝ� �B��]$�Z{��,$\�Ő�_ƍ��5]��B:�dn}�,��2��y9!e��jf hv��;��==�B��1\��p��4��~��y]�zp�� <> <>stream 2019-05-01T10:22:52.000Z Under existing rules, lessees generally account for lease transactions either as off-balance sheet operating or as endobj Title: Interim disclosures in the first year of applying IFRS 16 Author: PwC Subject: After adopting IFRS 16, many companies will issue interim financial statements under IAS 34 before preparing the first annual financial statements. <> IFRS 16, to provide specific and meaningful disclosure. Some of the disclosures in this publication would likely be immaterial if VALUE IFRS Plc was a ‘real life’ company. This publication provides examples of these new disclosures for a fictional medium-sized bank. Download here the publication that presents PwC's illustrative consolidated financial statements for a fictitious listed company, containing illustrative disclosures for as many common scenarios as possible. It is not a full set of financial statements. 0��b��Wk��j Leases. After adopting AASB 16, many companies will issue interim financial statements under AASB 134 before preparing the first annual financial statements. 2 0 obj endobj Entities should focus on the disclosure objective, not on a fixed checklist. endobj IFRS 16. �^�l��),��p��l��|��o�G+�֟�ً'��BcS��[��{�"t.��eʍ�Kn��cWk�Ơ�p��}�{Kc�S��*Evr��;/DT��o�D+� ��xoF�w�{�T��h��xU�a��ُ'w�̰��V�B��HA!��jc (/"�٢�PP�6��u�*�.�'z̴��g��s^��;�eH�� 1t ��/�˿�@��T��##�^�Ug)�F7��i��Q��x=\W��W��z9R�Rg��`+��^�h�^��D��H?\T^©��A�FW�GA5��LjyE]ҝ�o��]�j7�$$w��fx]D�!�kG��O' ��Z��]9wZ��Yn�޶��?��hrg�P��HS�� Fb�A�LK�� ӧ� This publication (pdf,830kb) presents illustrative disclosure introduced or modified by IFRS 9 'Financial instruments' for a fictional medium-sized bank. endobj IFRS 16 Leases BC224-BC227) Presentation of lessee disclosures in the notes to the financial statements (paragraphs 52 and 54) (para. New disclosure requirements and changes in accounting policies Most companies will have to make changes to their disclosures this year to reflect the adoption of AASB 16 Leases. This publication includes illustrative financial instruments disclosures for banks applying IFRS 9. The financial statements illustrative disclosures to reflect the first time adoption of IFRS 9 ‘Financial Instruments’ and IFRS 15 ‘Revenue from Contracts with Customers’. <> After adopting IFRS 16, many companies will issue interim financial statements under IAS 34 before preparing the first annual financial statements. This illustrative report does also not cover all possible disclosures that IFRS require. 2 It is important to clearly explain the changes to regulators, investors and other key stakeholders. PwC’s ‘VALUE IFRS Plc: Illustrative IFRS consolidated financial statements December 2017’ publication includes examples of IFRS 9 disclosures … <> These examples illustrate the presentation and disclosure requirements in those Standards. This publication shows how the adoption of these standards may affect a corporate entity. 34 0 obj BC228) endobj IFRS interim reporting disclosure checklist 2015. While the IASB issued a revised Conceptual Framework for Financial Reporting in March 2018 which will be used In compiling the illustrative disclosures, we have made a number of assumptions in relation to the adoption of NZ IFRS 16. [59 0 R 79 0 R 38 0 R 41 0 R 42 0 R 43 0 R 44 0 R 45 0 R 46 0 R 47 0 R 48 0 R 49 0 R 50 0 R 51 0 R 52 0 R 53 0 R 54 0 R 55 0 R 56 0 R 57 0 R 58 0 R 60 0 R 61 0 R 62 0 R 63 0 R 64 0 R 65 0 R 66 0 R 67 0 R 68 0 R 69 0 R 70 0 R 71 0 R 72 0 R 73 0 R 76 0 R 78 0 R 80 0 R 81 0 R 82 0 R 83 0 R 84 0 R 85 0 R 86 0 R] under IAS 34, including illustrative financial statements. The accounts comply with IFRS as issued at 31 May 2020 and that apply to financial years commencing on or after 1 January 2020. <> 2019-05-06T17:01:13.922Z Leasing is an important financial solution used by many organisations. prepared in accordance with International Financial Reporting Standards (IFRS), for a fictional manufacturing, wholesale and retail group (IFRS GAAP plc). 51 0 obj BC228) Peter Hogarth, PwC, pinpoints the hot topics in implementing IFRS 16 Leases at the Financial Reporting Faculty’s 2019 conference. Interim disclosures in the first year of applying IFRS 16 –PwC In brief At a glance After adopting IFRS 16, many companies will issue interim financial statements under IAS 34 before preparing the first annual financial statements. 48 0 obj 2018-02-21T04:05:28.454-05:00 Interim disclosures in the first year of applying IFRS 16 endobj [483 0 R 487 0 R 488 0 R 490 0 R 494 0 R 495 0 R 496 0 R 499 0 R 500 0 R 501 0 R 502 0 R 503 0 R 504 0 R 507 0 R 508 0 R 509 0 R 510 0 R 511 0 R 512 0 R 513 0 R 514 0 R 517 0 R 518 0 R 519 0 R 520 0 R 521 0 R 523 0 R 527 0 R 528 0 R 529 0 R 530 0 R 531 0 R 532 0 R 533 0 R 534 0 R 535 0 R 538 0 R 539 0 R 540 0 R 541 0 R 542 0 R 543 0 R 546 0 R 547 0 R 548 0 R 549 0 R 550 0 R 551 0 R 552 0 R 553 0 R 556 0 R 557 0 R 559 0 R 560 0 R 561 0 R 562 0 R 565 0 R 566 0 R 567 0 R 568 0 R 569 0 R 570 0 R 573 0 R 576 0 R 577 0 R 580 0 R 581 0 R 585 0 R 586 0 R 587 0 R 588 0 R 589 0 R 590 0 R 593 0 R 594 0 R 595 0 R 596 0 R 597 0 R 598 0 R 599 0 R 602 0 R 603 0 R 604 0 R 605 0 R 606 0 R 607 0 R 608 0 R 612 0 R 613 0 R 614 0 R 615 0 R 616 0 R 619 0 R 620 0 R 621 0 R 622 0 R 623 0 R 626 0 R 627 0 R 630 0 R 631 0 R 634 0 R 637 0 R 638 0 R 639 0 R 640 0 R 643 0 R 644 0 R 646 0 R 648 0 R 649 0 R 653 0 R 654 0 R 655 0 R 656 0 R 659 0 R 660 0 R 662 0 R 664 0 R 665 0 R 666 0 R 670 0 R 671 0 R 674 0 R 675 0 R 676 0 R 677 0 R 678 0 R 679 0 R 680 0 R 683 0 R 684 0 R 685 0 R 686 0 R 687 0 R 690 0 R 693 0 R 694 0 R 697 0 R 700 0 R 701 0 R 704 0 R 707 0 R 710 0 R 713 0 R 714 0 R 715 0 R 718 0 R 719 0 R 720 0 R 723 0 R 726 0 R 727 0 R 728 0 R 731 0 R 732 0 R 735 0 R 736 0 R 737 0 R 740 0 R 741 0 R 742 0 R] endstream 2018-02-06T02:31:28.000-05:00 These interims will be the first financial statements applying IFRS 16, and so they will need additional disclosures to explain the changes. Guidance on interim financial statements for first-time ... such as IFRS 16 or IFRS 17 Insurance Contracts. %PDF-1.5 %�� 33 0 obj The example disclosures are not the only acceptable form of presenting financial statements. 114 0 obj uuid:38077814-2e58-4cdb-962e-0239b564e6bc 1 0 obj The IFRS disclosure checklist has been updated to take into account standards and interpretations effective for ﬁnancial years beginning on or after 1 January 2014. <> endobj 2019-05-06T17:04:07.863Z The purpose of this publication is to provide a broad selection of illustrative disclosures which cover most common scenarios encountered in … After adopting IFRS 16, many companies will issue interim financial statements under IAS 34 before preparing the first annual financial statements. It provides IFRS 16 disclosure examples and explanations as a supplement to the September 2017 guide; as such, this supplement is not intended to reconcile to that guide. The purpose of this publication is to provide a broad selection of illustrative disclosures which cover most common scenarios encountered in … 667 0 obj pwc:services/audit_and_assurance/ifrs_reporting/ifrs_16 endobj ‘In depth’ series Publications providing analysis and practical examples of implementing key elements of IFRS. In compiling the illustrative disclosures, we have assumed that the impact of ... International Financial Reporting Standards does not apply. endobj and related interpretations, and is applicable for the first time for entities with an annual reporting period beginning on or after 1 January 2019. endobj With reference to the requirements of. We recommend that readers refer to our publication IFRS disclosure checklist 2012. BC218-BC223) Additional disclosures (paragraph 59) (paras. endobj ﷛�5��Е@��b�� #�=dmm�ٛ �"]I[��Hbݯg�}NWpH�rc\/g.��0�2� ��jU~�ԧI�=u78�F�H��c ܝ�,:3�Po�C��;�|��uy��}#Ap��MYw�Lwu;-��_d��Cw�:�>� �Uա&y8�J�h�?V�< ��쭳��C5 {[�� c��hs�g�|䷽�#�d��)uwu�5�dV��mP�Y��4Bs�ѓ��7��J�� ](�;�h؎ܥԙ ��^'��]P�mG y�w9C[�:�Z ��:tV�q^�.RP��!�l�ȼV�w�c1|�dtu/� �Ϋ�6VL]�2� �1NS�ZW��C��>$p��H We recommend that readers refer to our publication IFRS disclosure checklist 2013. <>/MediaBox[0 0 596.04 843]/Parent 2 0 R/Resources<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]>>/StructParents 1/Tabs/S/Type/Page>> endobj endobj This publication presents illustrative consolidated financial statements for a fictitious listed company, VALUE IFRS Plc. 1 January 2019. In compiling the illustrative disclosures, we have made a number of assumptions in relation to the adoption of NZ IFRS 16. Download here the publication that presents PwC's illustrative consolidated financial statements for a fictitious listed company, containing illustrative disclosures for as many common scenarios as possible. These reflect changes to IFRS effective for year ending 31 December 2019. This supplement does not illustrate all of the disclosures specified in IFRS 16, which will depend on an entity’s underlying facts and circumstances; for a full The new standard is ready, are you? [156 0 R 87 0 R 89 0 R 92 0 R 94 0 R 96 0 R 98 0 R 100 0 R 101 0 R 102 0 R 103 0 R 104 0 R 105 0 R 106 0 R 107 0 R 109 0 R 112 0 R 113 0 R 116 0 R 117 0 R 118 0 R 119 0 R 120 0 R 121 0 R 122 0 R 123 0 R 124 0 R 125 0 R 126 0 R 127 0 R 128 0 R 129 0 R 130 0 R 131 0 R 132 0 R 133 0 R 134 0 R 135 0 R 136 0 R 137 0 R 138 0 R 139 0 R 140 0 R 141 0 R 142 0 R 143 0 R 144 0 R 145 0 R 146 0 R 147 0 R 148 0 R 149 0 R 150 0 R 151 0 R 152 0 R 153 0 R 154 0 R 155 0 R 157 0 R 158 0 R 160 0 R 163 0 R 164 0 R] Illustratives IFRS consolidated financial statements for 2015 year ends Illustrative consolidated financial statements for an existing preparer of IFRS. endobj It enables companies to use property, plant, and equipment without needing to incur large initial cash outflows. International Financial Reporting Standards (IFRS), for a fictional private equity limited partnership ... IFRS. 2018-02-21T04:10:50.837-05:00 2018-02-06T02:31:28.000-05:00 disclosures about the possible impact of IFRS 16 that are required under IAS 8. Enter your keyword. a6b04af11a215d9c799e13083b37c69847bd0e4d application/pdf IFRS 16 Leases The new standard is ready, are you? The only change for lessors under IFRS 16 is the enhancement of disclosures. Disclosures about right-of-use assets, and expenses and cash flows related to leases (paragraph 53) (para. disclose changes arising from IFRS 16 For many companies, IFRS 16, the new accounting standard for leases, will materially affect the financial position and results. Sector-specific disclosures are available for banks, insurers and investment funds. Applying IFRS: Presentation and disclosure requirements of IFRS 16 Leases EY, November 2018 In-depth guide examining presentation in the primary financial statements, disclosures in the notes to the financial statements, and transition disclosures. 33 0 obj Leasing is an important financial solution used by many organisations. The IFRS Foundation demonstrates the use of the IFRS Taxonomy by tagging these presentation and disclosure examples using IFRS Taxonomy elements and the XBRL syntax. After adopting IFRS 16, many companies will issue interim financial statements under IAS 34 before preparing the first annual financial statements. ~��`È��lg��v�A�I�F��ct?��L^瑉�;C��X�K��~��@�OK�5�d��-")X-}E�h��&��4��?�� ($}�) $�-'��Ev��5��k��7Aҭ_Ck�֯B52�t4�� /|��P� ��3�SF J��!fX��y�� i��;T��༞ c4�Ps۔Y.��ɜTS��n�D��n��,�5�!L Aą�K��9z�O�[LDЌȴ:t��kg��Y!K]��g z�k$�] It can be applied before that date by entities that also apply IFRS 15 Revenue from Contracts with Customers. International Financial Reporting Standards’, is not applicable. Further speciﬁc information may be required in order to ensure fair presentation under IFRS. Sector-specific disclosures are available for banks, insurers and investment funds. IAS 8, and the expectations of ESMA, we set out below our practical suggestions of matters for entities to consider disclosing in relation to the expected impact. Case study: Lease by lease - discover the IFRS 16 disclosures New accounting standard IFRS 16 on leases is effective starting from 1 January 2019. 161 0 obj The standard provides a single lessee accounting model, requiring lessees to recognise assets and liabilities for all leases unless the lease term is 12 months or less or the underlying asset has a low value.

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