Tag Archives: IAS

Discuss the impact of IFRS 16 application on lessee’s statement of financial position, income statement, cashflows and financial ratios.

Description In 2016, IASB published a new lease accounting standard, IFRS 16, to replace the older standard, IAS 7. IFRS 16 came into effect from January 1, 2019. Required: Discuss the classification, recognition and measurement provisions of IAS 17 for finance and accounting leases. (650 words) IAS 17 had been criticized for a long time […]