International Accounting Standards Board announces lease obligation 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.
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