How IFRS changed accounting for leases

IFRS 16 Leases replaced the existing IFRS requirements on lease accounting. The new standard is effective for periods beginning on or after 1 January 2019.

IFRS 16 requires lessees to recognize most leases on their balance sheets. Lessees apply a single accounting model for all leases with certain exemptions. Lessor accounting is substantially unchanged. For lessees, recognizing lease-related assets and liabilities could have significant financial reporting and business implications. Entities will need to adjust their accounting policies, processes and internal controls to implement the new standard.

Changes to IFRS 16 Leases are now affecting many organizations. These changes have an impact beyond financial reporting, affecting IT, systems, processes and controls.

Our second webinar in the series will bring into focus how enterprises should be aware of significant changes for leases under IFRS 16 and adoption plan step by step of implementing this standard.

Related topics Assurance

Presenters

Truong Vu Le
EY Vietnam Assurance Partner

Organizers

EY Vietnam
Assurance | Tax | Strategy and Transactions | Consulting

Location EY Vietnam, VN

Time 14:00 - 15:00