After extensive outreach and re-deliberation, the IASB issued a final standard in January 2016: IFRS 16 - Leases. IFRS 16 will require almost all leases to be on the balance sheet of lessees and introduces a single income statement model which basically treats all leases as finance leases.
In this webcast, Derek Carmichael from our Global Accounting Consulting Services team and our special guest speaker Patrina Buchanan, Associate Director at the IASB, discuss the highlights of the new guidance.
Jay Tahtah, Accounting Advisory & Leasing partner, discusses the impact on industries and companies and why management should be attuned to the cross functional impacts of this change, how management can prepare for the changes in a measured way and some of the actions that companies are taking now to prepare for the changes.
The views expressed by the IASB staff in this webcast are those of the presenter, not necessarily those of the IASB or IFRS Foundation.
The webcast slides (pdf, 897kb) are also available.