IFRS 16 - Understanding the discount rate
Understanding the discount rate
In January 2016, the International Accounting Standards Board (IASB) issued IFRS 16 ‘Leasing’, which represents the first major overhaul in lease accounting for over 30 years. The Standard brings fundamental changes to lease accounting that replace previous accounting that is considered no longer fit for purpose. These changes become effective from 1 January 2019.