Our series, AASB 16 Check, responds to the common questions we are hearing on the application of AASB 16 Leases. Discover the tips and nuances to consider when transitioning to and applying the standard going forward.
The AASB 16 Leases application date is now past, and is here for 31 December 2019 year-ends onward. This standard brings a whole new approach to accounting for leases. Your application of the standard should consider a range of different issues around identification of leases, recognition and measurement, disclosures, transition and flow-on impacts to other standards.
As you prepare to comply with the leases accounting standard, we share our perspectives on the common questions we hear.
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