RSM Australia

AASB 16

Download the AASB 16 Leasing Model

11 April 2019
What is AASB 16 - Leases?

Recognition of peppercorn leases deferred

29 November 2018
The Australian Accounting Standards Board (AASB) has postponed the requirement for not-for-profit entities to bring peppercorn leases into their financial reports at fair value, having been made aware of the difficulty and cost constraints of determining the fair value of properties subject to such leases.

AASB 16 – Leases – Opening the valuation can of worms

10 July 2017
On 13 January 2016, the IASB published the long-awaited IFRS 16 Leases, which has been adopted as AASB 16 in Australia. Understanding the new standard - What does it mean for your balance sheet? There are important implications impacting the valuation of companies that you need to understand, including:

The effects of the new leasing standard are wider than you might think

21 June 2017
The accounting impact of AASB 16 Leases has received extensive coverage, but, for many businesses, the impact is likely to be felt far outside the accounting function.

A new approach to lease accounting - accounting for the lease

21 March 2017
Determining the Lease Liability The accounting for the lease is largely similar to how finance leases are currently treated under AASB 117, with the lease liability being measured at the present value of the lease payments, discounted at the interest rate implicit in the lease.  The following payments are included in the lease:

A new approach to lease accounting - determination of whether contracts contain a lease

21 March 2017
It may sometimes be straightforward to identify a lease, but some arrangements may be more problematic. A lease is defined as a contract where: There is a specifically identified asset The contract conveys the right to control the use of that asset for a period of time

A new approach to lease accounting

21 March 2017
On 13 January 2016, the IASB published the long-awaited IFRS 16 Leases, which has been adopted as AASB 16 in Australia.  The project to issue a new leases standard began in 2006, primarily in response to user concerns about off-balance-sheet assets and liabilities arising from operating leases, and resulted in multiple exposure drafts and discussion papers.