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IFRS 16, Leases - IDG

Date recorded:

At its meeting on November 29, 2016, the IFRS Discussion Group (IDG) considered various transition issues related to the adoption and implementation of IFRS 16. Group members observed that the IASB provided practical expedients to reduce the cost and effort of adopting IFRS 16. While the practical expedients appear to simplify the requirements, for a larger organization with a number of leases there will potentially be a significant number of decision points in going through the transition. Accordingly, preparers could consider modelling the different possible combinations provided under the IFRS 16 transition provisions. The Group’s discussion raises awareness about this item. No further action was recommended to the AcSB.

Review the Report on the AcSB's Web site.

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