AASB 16 Leases is live for the first-time for 31 December year-ends. It’s a challenging standard, involving lease identification, separating a lease into its components, recognition and measurement of the right to use and lease liability, lease term, impairment, and disclosures. This session will focus on:
- The steps entities need to take to apply AASB 16
- Making the most of the transitional choices
- Illustrative examples and disclosures
- AASB 2018-8 Amendments to Australian Accounting Standards – Right-of-Use Assets of Not-for-Profit Entities, and
- Proposals regarding Deferred Tax related to Assets and Liabilities arising from a Single Transaction.