IASB issues IFRS 16 Leases

The IASB issued a new accounting Standard, called IFRS 16 Leases. It replaces IAS 17.

IFRS 16 is effective 1 January 2019. Early application is permitted for companies that also apply IFRS 15 Revenue from Contracts with Customers.

For further information, please refer to IASB website.