IFRS 16 definition

IFRS 16 means the “International Financial Reporting Standard 16 – Leases” issued by the International Accounting Standards Board, sets out the principles for the recognition, measurement, presentation and disclosure of leases.

IFRS 16 means IFRS 16, Leases;

IFRS 16 means the International Financial Reporting Standard 16 issued by the International Accounting Standards Board, sets out the principles for the recognition, measurement, presentation and disclosure of leases

Examples of IFRS 16 in a sentence

• IFRS 16 is effective for annual periods beginning on or after January 1, 2019.

• IFRS 16 applies a control model to the identification of leases, distinguishing between a lease and a service contract on the basis of whether the customer controls the asset being leased.

• IFRS 16 substantially carries forward the lessor accounting requirements in IAS 17.

• For those assets determined to meet the definition of a lease, IFRS 16 introduces significant changes to the accounting by lessees, introducing a single, on-balance sheet accounting model that is similar to current finance lease accounting, with limited exceptions for short-term leases or leases of low value assets.

• IFRS 16 sets out the principles for the recognition, measurement, presentation and disclosure of leases and requires lessees to account for all leases under a single on-balance sheet model similar to the accounting for finance leases under IAS 17.

More Definitions of IFRS 16

IFRS 16 means the International Financial Reporting Standard 16: Leases.

IFRS 16 means International Financial Reporting Standard 16 Leases as issued by the International Accounting Standards Board in January 2016 to replace IAS 17 and effective from January 1, 2019, as amended or superseded from time to time.

IFRS 16 means the accounting standard promulgated by the International Accounting Standards Board which provides guidance on accounting for leases, which, with respect to the Borrower, will come into effect on September 1, 2019.

IFRS 16 means the “International Financial Reporting Standard 16 – Leases” issued by the International Accounting Standards Board, sets out the principles for the recognition, measurement, presentation and disclosure of leases. “Landlord” means Yichun Hong Lin Hotel Co., Ltd.*（宜春紅林酒店有限公司）, a company established in the PRC.

IFRS 16 means International Financial Reporting Standards (IFRS) 16, Leases, as promulgated by the International Accounting Standards Board (or any successor standard), as may be modified by the International Accounting Standards Board from time to time.

IFRS 16. ’ means the ‘‘International Financial Reporting Standards 16

IFRS 16. B9] An asset is typically identified by being explicitly specified in a contract, but an asset can also be identified by being implicitly specified at the time it is made available for use by the customer. However, where a supplier has a substantive right of substitution throughout the period of use, a customer does not have a right to use an identified asset. A supplier’s right of substitution is only considered substantive if the supplier has both the practical ability to substitute alternative assets throughout the period of use and they would economically benefit from substitution.