International Accounting Standards Board announces lease obligation changes

Accountaing Standards changes

Following decades of discussions, the International Accounting Standards Board (IASC) has issued a standard, to be called IFRS 16 Leases, which will require all leases to be reported on balance sheet from 1 January 2019.

The standard will be considered by the Australian Accounting Standards Board (AASB) at its 23-24 February meeting, for adoption in Australia.

Read AASB's full press release here.

To discuss your business' equipment finance options including Rental (Operating Lease), Finance Lease, Secured Loan and Commercial Hire Purchase, please call our Business Solutions team on 1300 780 895.