Accounting

On 13 January 2016, the International Accounting Standards Board (IASB) issued its new international lease accounting standards IFRS 16 Leases which removes the distinction between finance leases and operating leases for lessees with effect from 1 January 2019. The new lease accounting rules will affect most companies that report under the full IFRS and will have a significant impact on those with large operating lease portfolios (such as some of those in the retail, transport…