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Take a ‘closer look’ at new Leases standard, accountants urged

Take a ‘closer look’ at new Leases standard, accountants urged

Corporate entities will have to take a closer look at the new AASB 16 Leases accounting standard due to its wide-reaching impact, warns a mid-tier firm.

by Shared by AccountantsDaily | Dec 31, 2018

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The new accounting standard AASB 16 Leases comes into effect 1 January 2019 and is one of the “triple threat” of major accounting standards being rolled out, including AASB 19 Financial Instruments and AASB 15 Revenue from Contracts with Customers.