Clifford Chance

New lease accounting standard IFRS 16 – all change for lessees

23 June 2016

Lease accounting is being overhauled for companies accounting under full International Financial Reporting Standards (IFRS), resulting in on-balance sheet treatment for operating leases for the first time. The change will impact most companies using IFRS in some way, but groups operating in sectors with traditionally large operating lease portfolios, such as retail, transport and communications will be particularly affected. This briefing summarises the accounting change and its key impact on English law financing agreements.

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