IFRS Newsletter No. 01 – 2016
This Newsletter has been created to inform you on the latest IFRS updates and provides a detailed analysis to help you absorb the technical challenges related to the implementation of IFRS 16, the new standard on leases.
The long-awaited (but not necessarily hoped-for) publication of IFRS 16 on January 13, 2016 was accompanied by a number of educational tools designed to facilitate understanding of the standard and of the issues at stake: Project Summary and Feedback Statement, Effects Analysis, Webcast, Video: Introducing the new Leases Standard, Investor Perspectives – A New Lease of Life. To these official publications, the last weeks have seen a number of comments, articles and conferences on this hot topic. IFRS Newsletter plays its part, with a 24 page analysis in this edition to help you absorb the technical challenges that the introduction of IFRS 16 represents. Although application will not be mandatory until 2019, it is best to plan ahead, especially for entities which might prefer to adapt their financial communication and their information systems all at once to meet the needs of IFRS 15 and IFRS 16 simultaneously.