IFRS 16 comes into effect for periods commencing on or after 1 January 2019. Lessees with contracts that are currently treated as operating leases in their financial statements (i.e. the business pays rent) will definitely be affected by the forthcoming changes.
There is still much uncertainty around IFRS 16 and the implication of this new standard. This webinar aims to clarify any confusion before the standard comes into effect. We will cover:
- The impact on profit and loss
- “Right of use” assets and lease liability
- The impact on the statement of financial position
- The Two exemptions – low value assets and short term leases
About the presenter
Michael Steenkamp is a Director in RSM’s Johannesburg office where he is Head of IFRS. He also represents our firm on RSM’s international IFRS committee. Michael has been with the firm since 2001 and has extensive audit experience across various industries.