IFRS Interpretations Committee agenda decision – IFRS 16
We bring an interesting final agenda decision issued by the IFRS Interpretations Committee in April 2023 which concerns the definition of a lease under IFRS 16 Leases.
IFRS Interpretations Committee agenda decisions
We bring two interesting final agenda decisions issued by the IFRS Interpretations Committee in 2022. The first concerns the forgiveness of lease payments by the lessor, the second concerns the question of whet…
IASB issued an amendment to IFRS 16
On 22 September 2022, the International Accounting Standards Board (IASB) published 'Lease Liability in a Sale and Leaseback (Amendments to IFRS 16)' with amendments that clarify how a seller-lessee subsequentl…
Five amendments to IFRSs endorsed for use in the EU
We bring you an overview of new amendments to IFRSs recently endorsed by the European Commission. These are Amendments to IFRS 3, IFRS 16, IAS 16, IAS 37 and Annual Improvements 2018-2020. What are the amendme…
IASB extends practical expedient regarding COVID-19-related rent concessions
On 31 March 2021, the International Accounting Standards Board (IASB) published 'Covid-19-Related Rent Concessions beyond 30 June 2021 (Amendment to IFRS 16)' that extends, by one year, the May 2020 amendment t…
Amendments to IFRS 16 endorsed for use in the EU
On 9 October 2020, Amendments to IFRS 16 Covid-19-Related Rent Concessions were endorsed by the European Commission for use in the European Union. The EU effective date is the same as the IASB’s effective date.…
IASB will amend IFRS 16 due to the COVID-19 pandemic
On 17 April 2020, the International Accounting Standards Board (IASB) decided during its supplementary meeting concerning COVID-19-related matters to amend IFRS 16 by the end of May 2020.
The Biggest Pitfalls of Adopting IFRS 16, which Addresses the Reporting of Leased Assets
Since 1 January 2019, IFRS 16 has been in effect. This standard substantially revised the accounting treatment applied by lessees to leased assets. For companies, this means more demanding work with data; the n…