DRJ's Spring 2019

Conference & Exhibit

Attend The #1 BC/DR Event!

Winter Journal

Volume 31, Issue 4

Full Contents Now Available!

Tuesday, 06 February 2018 16:42

IFRS 16: five things you need to know now

When IFRS 16 comes into effect in January 2019, it will transform the relationship between businesses and their leases, including those for office spaces and other real estate. Here, award-winning financial journalist Melanie Wright explains what the changes mean and why it’s so important for businesses to ensure they’re prepared

Many firms lease a wide range of items to support their businesses, such as office space or vehicles. The latest standard from the International Financial Reporting Standards (IFRS), IFRS 16, is due to come into effect in January 2019, changing how businesses must recognise, measure, present and disclose these leases.