×
MindLuster Logo
Join Our Telegram Channel Now to Get Any New Free Courses : Click Here

Lease Accounting for Lessees | Overview | IFRS 16

Share your inquiries now with community members Click Here
Sign Up and Get Free Certificate
Sign up Now

Lessons List | 25 Lesson

Comments

Our New Certified Courses Will Reach You in Our Telegram Channel
Join Our Telegram Channels to Get Best Free Courses

Join Now

We Appreciate Your Feedback

Excellent
10 Reviews
Good
11 Reviews
medium
1 Reviews
Acceptable
0 Reviews
Not Good
0 Reviews
4.4
22 Reviews


YONG JING YIN

Very good 2024-11-14

Yosef Berhanu Takiso

Awesome 2024-08-12

Bitew

It was so nice 2024-07-29

Tagesse Erengo Ejjamo

Thank you very much for this golden opportunity 2024-07-28

Show More Reviews

Course Description

IFRS 16 is an International Financial Reporting Standard promulgated by the International Accounting Standards Board providing guidance on accounting for leases. IFRS 16 was issued in January 2016 and is effective for most companies that report under IFRS since 1 January 2019. IFRS 16 defines a lease term as the noncancellable period for which the lessee has the right to use an underlying asset including optional periods when an entity is reasonably certain to exercise an option to extend (or not to terminate) a lease. IFRS 16 requires that the 'right of use asset' and the lease liability should initially be measured at the present value of the minimum lease payments. The discount rate used to determine present value should be the rate of interest implicit in the lease.